海角视频

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PRIVACY
Economic Development

Wales saw rise in the number of businesses in first year of pandemic - but one worrying statistic

The number of business deaths was lower than the 海角视频 average but start-ups were at an eight year low

Overall business numbers were up in Wales

Wales saw a small increase in the number of enterprises in the first year of the pandemic, according to recently released figures.

The total number of enterprises active in Wales during 2020 was 104,445 – an increase of 675 (0.7%) on 2019. There were 11,905 enterprise births in Wales during 2020, a rate of 11.4%, compared to a 海角视频 birth rate of 11.9%.

The business birth rate for Wales is the lowest it has been since 2012 according to StatsWales, with Covid blamed.

There were 10,200 enterprise deaths in Wales during 2020, a rate of 9.8%. The 海角视频 death rate was 10.5%.

The five-year survival rate in Wales was 40.4%, slightly above the 海角视频 rate of 39.6%.

Dr Edward Jones, of Bangor University’s Business School, said: “It does give an insight into how businesses faired during the initial stage of the pandemic.

“The enterprise death rate during 2020 was 9.8% in Wales but 10.5% across the whole of the 海角视频.

“This difference may reflect the different approach taken by governments across the 海角视频 relating to the pandemic and support schemes.