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Number of UK businesses going bust rises 52% in two years

7th January 2024

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The environment for small business appears to be markedly worse this year than it was two years ago, with a 52% rise in insolvencies since 2021, attributed in large part to COVID and Brexit.

However, as an inquisitive economist, I would always ask whether we can be certain that these are the causes? There is a school of thought that suggests that post-2008 and the global financial crisis and definitely post-COVID we've seen government prop up so-called zombie businesses and 2023 might simply be a year where more of them have been 'allowed' to fail.

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Graham Watson

Graham Watson has taught Economics for over twenty years. He contributes to tutor2u, reads voraciously and is interested in all aspects of Teaching and Learning.

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Number of UK businesses going bust rises 52% in two years

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