While there are no official forecasts of the number of businesses expected to close, the latest statistics show that, on average, 305,000 businesses closed per year between 2016-2020, with 327,000 businesses closing in 2021. However, business births have exceeded closures over this period. The Government regularly engages with small businesses and representative organisations in many ways, including roundtables, bilaterals and visits to understand the specific issues they face in relation to the current economic climate. We are committed to ensuring small business views are heard in policy making as we work together to understand the barriers and consider practical solutions. Source: Business Demography, UK: 2021, ONS Statistics (November 2022)