Experimental rapid business births and deaths
As part of their commitment to releasing timely economic insights the ONS has begun to publish early data on business births and deaths at low level geographies. This data provides an indication of the general business conditions in the North East LEP.
The most recent data shows that in Q3 2023 there were 1,460 business starts in the North East LEP area. There were also 1,520 business deaths.
The North East has seen more business deaths than births since the start of 2022, with the overall number of businesses falling by 910 over that period. This mirrors the national trend and may be a delayed impact of Covid-19 as the ONS only records a death after several quarters of zero turnover and employment.
The regular business demography release is still the most comprehensive data release on business births and deaths in the UK. There is an additional page analysing this release on the Evidence Hub.
