- Since June 2022, there has been a net loss of nearly 33,500 small employing businesses (those with between one and nineteen employees).
- The number of small employing businesses has declined for three consecutive years.
- In 2024-25, all categories of businesses employing less than 200 people declined, indicating the negative business environment is spreading to medium-sized employers.
- This coincides with a spike in company insolvencies since mid-2022: 14,649 companies became insolvent in total over the 2025 calendar year. In February
Figure 1: Cumulative change in the number of small businesses (one to nineteen employees) since June 2022
