Business demography

Key points
Number of enterprises and yearly change

In 2024 there were 45,155 active enterprises in the Lancashire-12 area and in the Lancashire-14 area there were 54,510.
In the Lancashire-12 area there were +60 (+0.1%) more enterprises in 2024 than in 2023.
This included +90 (+2.7%) more in Fylde, +75 (+1.6%) more in West Lancashire and +40 (+1.1%) more in Ribble Valley.
The number of enterprises fell by -40 in Chorley (-0.9%) and by -25 in Burnley (-0.9%) and Wyre (-0.6%).
In the Lancashire-14 area there were -260 (-0.5%) fewer enterprises in 2024 than in 2023.

Births, deaths and survival rates of enterprises

In the Lancashire-12 area in 2023 5,015 new enterprises were started (births) while 4,980 ceased trading (deaths) giving a net addition of +35.
In 2023 there were +60 more enterprises births than deaths in Fylde, but there were more business deaths than births in Chorley (-90).
As many as 95.1% of new enterprises founded in 2022 in Ribble Valley survived to 2023, but in Hyndburn the rate was only 89.7%.
The one-year business survival rate for Lancashire-12, the North West, England, GB and UK were in the range 92.0-92.6% in 2023.
The three-year business survival rates for Lancashire-12, the North West and England from 2020 (51-53%) were lower than those from 2013 to 2016 (60-63%).
The three-year business survival rates for Lancashire-12 from 2017 to 2020 was 59%, better than England (56%) and much better than the North West (48%).
The five-year business survival rate for Lancashire-12 from 2018 was 41%, higher than England (39%) and the North West (36%) but was lower than the survival rate from 2012-2017 (45%).

Geographies used in Lancashire Insight