In the first half of 2024 South East business failures showed a 16% increase over 2023 and 42% rise over 2022. Retail, manufacturing, construction, real estate and hospitality business failures were the highest failures for the second year in a row, accounting for 57% of all administrations. The retail industry was the worst-hit sector for the second year running, accounting for 14% of all administrations from January to June 2024. Source d ata from The Gazette Official Public Record.
Clive Bonny MD at Strategic Management Partners, Brighton since 1990 comments “Recent UK Gov ONS statistics show Brighton suffers more annual business failures than startups despite having high numbers of startups. This reduces business rates revenues for local public services and reduces local economic growth. Recent independent reports also show small enterprises need more professional guidance on risk management and business continuity planning. Too few are protecting their intellectual property, and too few know how to market into the public sector. These issues consequently reduce private equity funding opportunities, limiting cashflow and growth.”
Below UK GOV ONS figures on Brighton business startups and failures
