Companies House reported a notable decline in UK business registrations between October and December 2024, with incorporations down by 15.47% compared to the previous year. This shift marks the first decrease in company registrations since quarterly records began in 2012. Concurrently, business dissolutions rose significantly by 24.55%. Business leaders express deep concern over the government's budget policies, which they claim are driving entrepreneurial uncertainty. Industry representatives highlight the adverse impact of increased taxes and costs on business viability, warning that it could lead to a lost generation of innovators in the UK.
"The anti-business Budget is starting to bite. Many businesses will be downsizing or closing and there has never been less incentive to start a business."
"This is a damning indictment of the tax hikes piled onto UK firms and shows how anti-business the UK has become."
"Two words sum up this data: sheer disgust. You cannot dislike this set of politicians enough and what they are doing to the UK economy and entrepreneurial mindset."
"If existing business owners are questioning their viability due to rising costs, why would new entrepreneurs take the risk?"
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