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In the News

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

Graham Watson

7th January 2024

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.

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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