The UK saw more than 800,000 new businesses in 2022/23, a 6.4% increase from the previous year. Unfortunately, it’s not good news for all business owners, as recent figures have revealed that England and Wales have seen the highest rate of bankrupt companies since the early 1990s.
From failing to compare business energy deals to having an ineffective marketing strategy, many things can cause a business to fail, but which areas have the worst business death rate? To determine this, we have compiled data from the last five years to reveal the current state of business terminations in the UK. Using AI, we can also show what UK high streets might look like across the country in the near future.
Here’s what high streets might look like across the most affected UK local authorities in the future
1. Birmingham – 4,845 business deaths
With 4,845 business deaths, Birmingham has seen more enterprises terminate than any other area in the UK. Of the first three quarters of 2023, January to March saw the most significant proportion of business deaths, with more than 2,100.
2. Westminster – 4,450 business deaths
Located at the heart of England’s capital, Westminster has a booming tourist industry and provides jobs for a large number of London’s residents. Despite this, Westminster has the second-highest number of business deaths in the UK. Interestingly, this city saw more closures in the third quarter of 2023 than that of the first-place entry, totalling 1,365.
3. Leeds – 2,970 business deaths
Leeds was responsible for almost 3,000 business deaths between January and September 2023, the third-highest of all the UK areas on our list. When broken down by each quarter, January to March saw the most businesses close down, and July to September was responsible for the fewest business deaths.
4. Barnet – 2,680 business deaths
The London Borough of Barnet is famous for its weekly market, which has been a hit with customers for centuries. Unfortunately, this isn’t enough to protect businesses in this area, as Barnet appears fourth on this ranking with a total of 2,680 business deaths.
5. Manchester – 2,675 business deaths
The English city of Manchester suffered 2,675 business deaths between January and September 2023, which is the fifth-highest total of all areas on our list. In a similar fashion to the other entries on this ranking, the period responsible for the most business deaths in 2023 was January to March, which saw more than 1,100 deaths.
Birmingham has accrued more business deaths than any other area in the UK, with 4,845 in 2023 alone The table below reveals which UK areas have the highest number of business deaths based on figures from the first three quarters of 2023.
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