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Written question asked by Lord Mawson (Crossbench) on Monday, 1 June 2026, in the House of Lords. It was due for an answer on Monday, 15 June 2026. It was answered by Lord Stockwood (Labour) on Tuesday, 16 June 2026 on behalf of the Department for Business and Trade.

Small Businesses: Closures

Question

To ask His Majesty's Government how many small businesses ceased to operate in the UK in the financial years (1) 2023–24, (2) 2024–25, and (3) 2025–26; and what assessment they have made of the reasons for these closures.

Answer

Inter-Departmental Business Register data shows that the number of UK businesses that ceased operation between financial years 2023-24 and 2025-26 is as follows:

  • 2023-24; 312,940
  • 2024-25; 292,095
  • 2025-26; 285,075

While business deaths data is not available by business size, the UK business population is overwhelmingly composed of small and medium-sized enterprises (SMEs), accounting for 99.9% of firms.

Business death rates are influenced by a range of factors, including business resilience and broader economic and financial conditions.

Secondary information

Type
Written question
Reference
HL491
Session
2026-27
Subjects
Closures Small businesses
Contains statistics
Yes
Link
View this Written question on www.parliament.uk