The data above is taken from the Business Demography dataset from ONS which gives, numbers of ‘births’, ‘deaths’and survivals of businesses in the UK, figures are available down to local authority level. The data is published annually with the latest figures being for 2016, the 2017 data is expected to be released at the end of November 2018.
Business Start-ups (Banksearch)
The Business Demography data set gives the numbers of business ‘births’, the number of business ‘deaths’ and the total number of active enterprises which have been in operation during the reference year. The latest data was released in November 2018, and gives the statistics for 2017.
The number of business births in West Sussex has fallen over the year 2016-2017, as it has nationally and regionally, the county has seen a fall of 8.2% compared with the South East region of 7.1% and Engalnd by 9 2%. The highest drop in the numbers of business births was seen in Horsham at 155 (17.2%) but also Crawley ‘births’ fell by 120 – 18.6% over the last year. Only Worthing saw an increase in the numbers of start-ups to 20 (+4.3%). Overall this has led to a fall in the overall start-up rate i.e. the numbers of births expressed as a percentage of the total number of active enterprises in that year.
The start-up rate for West Sussex is lower than the national and regional rate. Conversely it is evident that the numbers of businesses which have closed has been rising, though has not exceeded the numbers of new starts as it had in 2012, though the gap between the rates in 2017 is closing. The reasons for a fall in business start-ups may be linked to potential uncertainty related to the UK’s future relationships with the EU.
As start-up rates have fallen throughout the country the West Sussex position compared with its statistical neighbours remains in Quartile 2. The ambition is to move it to the top quartile through actions including the provision of start-up space and support for businesses to start and grow as set out in the West Sussex County Economic Growth Plan – High Level Action Plan 2018-2023.
Quarter 1 - June 2018
In addition to the Business Demography data West Sussex County Council subscribes to data from BankSearch Ltd., which gives some detail to business start-up trends by using newly opened business bank accounts as a proxy measure. The data is released monthly and gives some figures down to ward level. The latest data is for May 2018. There were 10.6% fewer business start-ups in West Sussex during the first five months of this year compared with the corresponding period last year. In May 2018 there were 481 new businesses started in the county, 19 more than the previous month but 33 fewer than in May 2017. Horsham saw the most start-ups and Adur the least. West Sussex accounted for 9.4% of all start-ups across the South East. In May 2018 there were 9.7 start-ups for every 10,000 working age in West Sussex, and compares with a rate of 9.5 for the South East region.
The following table shows the number of start-ups for each local authority area in West Sussex