Over 2,500 Bucks businesses permanently closed in one year according to poll

Buckinghamshire was among the places in the UK where the most businesses were permanently closed, new data shows.

Buckinghamshire had the sixth highest number of businesses shutting down. According to data compiled by Utility Bidder, 2,560 businesses closed in Buckinghamshire, in 2023 alone.

According to the business service’s research Birmingham had the most closures with 4,845, Central London came second, with Leeds in third.

Utility Bidder recorded that England and Wales have seen the highest rate of bankrupt companies since the early 1990s. But also found that over 800,000 new businesses were formed in the UK.

Buckinghamshire did not feature in the top 10 business deaths per 1,000 enterprizes. This category was topped by Wolverhampton, with Newham finishing second, and Mansfield third.

Wolverhampton was said to have a business death rate of 179.5 per 1,000 enterprises.The highest increase in closing businesses was reported in Wyre Forest, with Mansfield coming second, and Sedgemoor third.

Agriculture, forestry and fishing are the industries that saw the biggest the biggest increase in business deaths over the past five years, with an increase of 94.98 per cent. The real estate industry has seen an increase of 61.95 per cent. A high increase business deaths was also recorded in the retail sector.

The highest number of business deaths came in the scientific and technical activities sector, followed by construction, and business administration companies.

Data used for Utility Bidder’s report came from the Office for National Statistics, places were separated by their local authority area.