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New Businesses

Volume 201: debated on Wednesday 15 January 1992

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To ask the Secretary of State for Employment how many new businesses are estimated to have been started since May 1979; how many were started in the previous five years; and if he will make a statement.

Between the end of 1979 and the end of 1990, there were an estimated 2,147,000 new registrations for VAT and 1,727,000 deregistrations—a net increase of 420,000. During the previous five years, between the end of 1974 and the end of 1979, there were an estimated 809,000 new registrations and 724,000 deregistrations—a net increase of 85,000.The available indicators for 1991 show that there continue to be more businesses starting up than closing down. For example, there have been over 1,000 starts a week under enterprise allowance alone.