Startups outstrip business closures in 2021

More startups were created in the first six months of 2021, compared to the number of businesses that closed over the same period.

Between April and June 2021, 105,455 businesses closed, compared to the 73,580 that closed during the same period in 2020.

The ONS said the unusually low amount of business closures in Q2 2020 was a result of the unprecedented amount of support given to businesses at the start of the pandemic.

The number of businesses that closed in Q2 2021 was still higher than pre-pandemic levels, as businesses struggled to trade amid lockdown restrictions.

On the other hand, 136,765 startups were created in Q1 2021 (up 16% year-on-year), followed by 96,895 in Q2 2021 (up 25% on Q2 2020).

The number of startups in Q1 2021 outstripped the number of closed businesses by 25,260, although a further 8,560 firms went out of business in Q2 2021.

This figure could be poised to increase further as Government support, such as the furlough scheme, ends on 30 September 2021.

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Your questions answered

How can Barley Grove help my start-up grow?

We provide tailored accounting and financial advice for start-ups, including cashflow management, financial forecasting, and strategic growth advice to help you succeed from the start.

Do you offer consultations outside of regular business hours?

Yes, we offer flexible consultations, including outside of regular business hours, to accommodate your busy schedule and ensure you get the support you need.

How do I switch accountants to Barley Grove?

Switching to Barley Grove is simple. We’ll manage the process, liaise with your previous accountant, and handle the paperwork to ensure a smooth transition.

Will switching accountants affect my current accounts?

No, switching accountants won’t disrupt your business. We’ll ensure a seamless handover of financial records and take care of the details for you.

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10-14 Old Wallfields,
Peg's Lane,
Hertford,
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