More Businesses closing than opening says latest statistics

Latest Office for National Statistics (ONS) figures show that alarmingly, businesses closing has outpaced openings for the first time since 2010.
The ONS Inter-Departmental Business Register shows that there was a 7% year-on-year decline in new businesses in 2022, while business closures were up 5%, meaning it was the first time since 2010 that there is more businesses closing than opening in the UK.
The analysis shows that the number of businesses closing in the construction sector climbed by 4