Budget Raises Fears Small Businesses Will ‘Decline Even Further' - London Business News...

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The latest insight from  The Global Payroll Association (GPA) , reveals that the number of UK businesses is on the decline, with small businesses seeing the sharpest drop over the past year, driven by a steady decline in the number of new startups being created.

The data shows that there are currently a total of 5.49 million businesses operating in the UK. This marks an annual decline of -1% and a five-year decline of -6.3% since 2019's total of 5.87 million businesses.

Melanie Pizzey, CEO and Founder of the Global Payroll Association, said, "We need the government to do more to encourage entrepreneurship here in the UK. Our business landscape has long been famed for enabling the creation of a huge number of outstanding businesses with massive clout both here at home and around the world.