Higher level of new business failing in Birmingham
Birmingham has seen one of the highest percentages of new business failures.
Research from CMC Markets revealed Reading as the UK city opening the most successful new businesses in the last five years, with just 0.13 per cent going into liquidation.
The study used business intelligence software to analyse how many businesses were incorporated in the UK’s largest 25 cities from December 2017 to December 2022 compared to the number that went into administration, liquidation, or were dissolved.
Stoke-on-Trent was in second place at 0.21 per cent with 6,228 new businesses opening in the last five years and just 13 reported closures.
The city with the least successful new businesses was Southampton with 3.04 per cent – 162 – of 5,337 new businesses closing.
Sheffield was next worst at three per cent followed by Birmingham with 333 or 16,330 failing – 2.04 per cent.
