UK CREATES NEW BUSINESSES AT SLOWEST RATE SINCE 2010

Britons started new businesses last year at the slowest rate since 2010, a potential warning sign for longer-term economic growth and productivity.

The number of new businesses started in the United Kingdom fell to 316,000 in 2023 from 337,000 in 2022. This reduced the 'business birth rate' - the number of new businesses started as a percentage of the total number trading - from 11.5% to 11.0%, the lowest since 2010.

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