Pendle businesses rapidly failing as Lancashire borough ranks in top 10 list for business deaths

Research has revealed that Pendle is in the top 10 areas in the UK for business deaths over the last five years.

Between the years of 2018 and 2023, the Lancashire borough saw a 65% increase in the amount of businesses unable to survive which has landed it in 10th place.

This percentage was taken by looking at the number of deaths in 2018 which was 200 compared with the number of deaths in 2023 which was 330.

The UK area with the biggest change in business deaths between 2018-2023 is Wyre Forest which saw an increase of 140%, with 540 business deaths taking place in 2023 alone. 

Mansfield saw the second-highest increase of business deaths across the same period at 125.5% and Sedgemoor in third place with 92.9%.

The full research, carried out by Utility Bidder, also revealed which UK cities have the most businesses failing as well as the number of business deaths per 1,000 enterprises. 

The study also uncovers which specific industries are experiencing the most business deaths and what some of the country’s high streets might look like according to AI, if business death rates keep on increasing.

In 2023, 37,490 business deaths were reported in the professional, scientific and technical activities industry, which is the highest in the UK. 

The construction industry came in second place, with 35,095 business deaths over the 12 month period.

Agriculture, forestry and fishing is the industry which has seen the biggest increase in business deaths over the past five years, with an increase of 94.98%. 

The real estate industry has seen an increase of 61.95%, which is the second-highest.

You can view the full research here - https://www.utilitybidder.co.uk/blog/closing-the-high-street/