Image source: Shardayyy
The North East tops the table for new business ‘births,’ second only to London, new statistics from the Office for National Statistics show.
The birth, or new registration, rate in the region was 11.4%, second only to London with a rate of 14.8%.
Although the balance between birth and death rates relatively equal, the number of births nationally in 2012 of new businesses (270,000) was greater than business deaths (255,000).
Looking at broad industry groups, business administration and support yielded the highest proportion of births at 15% and the highest business death rate, at 13.3%, was in accommodation and food services.
The death rate was also higher in the construction sector at 11.9%.
