Hundreds of businesses in Flintshire and Wrexham shut their doors for good in 2022, new figures show.

It comes as more UK businesses closed since records began in 2002, surpassing the number of new start-ups founded for the first year since 2010.

In his autumn statement, Chancellor Jeremy Hunt announced a range of tax cuts to aid businesses.

Office for National Statistics figures show around 755 businesses in Flintshire ceased trading in 2022 – up from 740 the year before.

Some 5,880 businesses were active last year, meaning the 'business death rate' – the percentage of businesses that closed – has risen to 12.8%.

This is above the 'business birth rate' – the percentage of businesses that began trading – of 11.7%, with around 690 created last year.

In Wrexham, 425 businesses ceased trading, down from 440 the year before.

Some 4,090 businesses were active last year, meaning the 'business death rate' has fallen to 10.4%, which is above the birth rate of 9.7%, with around 395 created last year.

Dr George Dibb, head of the IPPR's Centre for Economic Justice, said: "Today's new data is a potential warning sign for the British economy with more companies going out of business than started up for the first time in 2022 since the tail end of the financial crisis.

"Whilst this isn't unexpected – high energy costs combined with the end of pandemic support schemes would always see a rise in company closures – it might signify that greater business support would have maintained higher economic activity."

Mr Hunt also announced the standard multiplier for rates on high-value properties will increase in line with inflation, while the small business multiplier will freeze for a further year.


The 75% business rates discount for retail, hospitality and leisure will also be extended for another year.

Dr Dibb also highlighted regional inequalities in business development. 

He said: "If we want to reduce regional economic inequality and 'level up', we need to see more of these booming companies in every part of the country."

Transport and storage businesses particularly struggled, with the highest death rate at 23.8%, almost double any other industry, which the Institute of Directors said was caused by "higher business costs and declining disposable income."