New analysis of BankSearch data by Lloyds Bank has shown that the number of new business start-ups in UK has fallen over the last five years.
The bank’s research revealed that there were fewer new start-ups in November 2016 compared to the same period in 2011, with nearly 100,000 fewer new businesses in England in 2016 – a 20 per cent decline.
Wales was the region to see the lease new start-ups during the five year period, with a 26 per cent decline in new businesses starting up.
In comparison, Scotland only experienced a three per cent decline, with 14 of 32 regions in Scotland seeing growth in new start-ups over the last five years.
Within England, Yorkshire and the South West saw 26 per cent and 24 per cent fewer start-ups respectively in November 2016 as compared to 2011.
During the same period the West Midlands saw a 16 per cent decrease and London a 17 per cent decline in new start-ups.