In an unexpected turn of events in 2023, more businesses in Lincolnshire closed down than were established, as disclosed by recent figures released on 4th March 2025. The county’s business demographic reveals a total of 2,990 enterprises ceased operations last year, which surpasses the 2,575 new businesses that were launched.
This fresh data raises concerns for the active business minds of Lincolnshire. With a total of 27,605 active businesses across the county, the advanced closure rate indicates a challenging environment for local businesses. This serves as a stark alert concerning the struggles that small and medium enterprises must confront, from economic instability to evolving consumer habits.
When breaking down the data by district, East Lindsey appears to be the most resilient, with 405 new business establishments nearly levelling with 400 closures. On the other hand, Boston endured a net loss as they witnessed the closure of 285 businesses countered with only 250 new openings. North Kesteven likewise experienced hard times, with 420 businesses closing compared to a smaller number of 380 new businesses opening up.
The trend is evident; while entrepreneurship remains robust with the birth of new ventures, the need for sustainability and support is crucial. The business sector remains hopeful that local councils will provide enhanced support to help businesses not just endure but flourish.
As residents of Lincolnshire, this information is impactful, affecting local economies and job opportunities alike. It serves as a plea for action for communities to support their local businesses.
Looking ahead, the question lingers: will 2024 present a more hopeful outlook for Lincolnshire’s business terrain, or will obstacles continue to pile up? Only time, along with perhaps some tactical support, will provide the answer.
Data acquired from Lincolnshire County Council open datasets. To view the original source of the information, please follow this link: https://lincolnshire.ckan.io/dataset/c12076fd-d97f-4454-84e5-b5f4c879d8bd/resource/b3939396-49b6-44ed-b3c9-726783156cbd/download/businessdemography.csv.
