Monthly estimates of business openings and closures, December 2022

In December, the number of active businesses did not increase for the sixth consecutive month. The contraction of the number of active businesses in December (-0.3%; -2,374) was mainly driven by the slight decrease in the business opening rate, from 4.5% in November to 4.4% in December. The business opening rate was 0.3 percentage points below its 2015-to-2019 historical average. The decrease in the business opening rate in December 2022 was due to the decline in the reopening rate from 2.8% to 2.7%, as the entry rate remained at 1.7%. The business closure rate held relatively steady at 4.6%, equal to its historical average.

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