§ Lord Hardy of Wathasked Her Majesty's Government:
How many new businesses have been created in the county of South Yorkshire and in the Yorkshire region in 2002 and since 1997. [HL1512]
§ Lord Sainsbury of TurvilleThe most robust information on business formation is the annual estimates of VAT registrations and deregistrations compiled by the Department of Trade and Industry based on VAT information held by the Office for National Statistics. The estimates are a good indicator of the pattern of business start-ups and closures, although they exclude firms not registered for VAT either because their main activity is exempt from VAT or because they have a turnover below the VAT threshold (£51,000 with effect from 1 April 1999, £52,000 from 1 April 2000 and £54,000 from 1 April 2001) and have not registered voluntarily.
The numbers of registrations, deregistrations and the net change for the years 1997 to 2001 in South Yorkshire and the Yorkshire and Humber region are given below. Estimates for 2002 are not yet available.
179WA
Number of new registrations for VAT: 1997–2001 1997 1998 1999 2000 2001 Total Yorkshire & the Humber 11,825 11,820 11,635 11,975 11,680 58,935 South Yorkshire 2,480 2,495 2,505 2,480 2,550 12,510
Number of deregistrations for VAT: 1997–2001 1997 1998 1999 2000 2001 Total Yorkshire & the Humber 12,250 11,350 12,295 12,755 11,490 60,140 South Yorkshire 2,655 2,545 2,755 2,800 2,490 13,245
Net change in VAT registrations: 1997–2001 1997 1998 1999 2000 2001 Total Yorkshire & the Humber -425 470 -660 -780 190 -1,205 South Yorkshire -175 -50 -250 -320 60 -735 Source: Small Business Service