The number of new businesses being create in Wales has fallen sharply. In the final quarter of 2024 (Q4) there were 2,025 new firms established, compared to 2,760 a year earlier and 2,525 in the previous quarter. It was the lowest number since the ONS first started providing data from the beginning of 2017.
Cardiff had the highest number of business births of any of the 22 local authorities in Wales at 285, followed by Swansea with 160 and Carmarthenshire with 125. The lowest was recorded in Blaenau Gwent with 30.
In Wales there were 2,405 business deaths, up from 2.280 on the previous quarter- although improved on Q4 2023 when the number was 3,005.
For the º£½ÇÊÓƵ as whole 65,450 new firms created, which was down 8.5% on a year earlier.
There was a decrease in creations in 13 out of 16 main industrial groups with the most significant falls coming from the transport and storage, and business administration and support services industries.
The number of business closures was 69,435, some 7.3% lower than the number of closures in Q4 2023.
There was a decrease in the number of closures in 10 out of 16 main industrial groups on a year earlier, the most significant fall came from the transport and storage industry.
