Entry rate declines and exit rate rises, yet business population expands
Following two consecutive years of increases, the business entry rate declined in 2023, falling from 13.9% in 2022 to 12.3%. This decrease followed an increase of 2.2 percentage points in 2021 and a slight growth of 0.2 percentage points in 2022.
The business exit rate increased 1.1 percentage points to 11.9% in 2023, rising from its lowest level on record the previous year (10.8%). This followed a sharp decline over the 2020-to-2022 period, during which the exit rate saw a cumulative decline of 3.2 percentage points.
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