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VAT Registrations/Deregistrations
VAT registrations and de-registrations are the best official guide to the pattern of business start-ups and closures. They are an indicator of the level of entrepreneurship and of the health of the business population. As such they are used widely in regional and local economic planning.
Coverage of the statistics is complete in all parts of the economy except a few VAT exempt sectors and the very smallest one person businesses operating below the threshold for VAT registration, which in 2009 is £67,000 of annual turnover. The figures below cover VAT registrations and deregistrations for the four local authority areas – Gosport, Havant, Fareham and Portsmouth. The figures indicate a healthy business population with a greater number of business start-ups than closures.
|
Industry |
Registrations |
Deregistrations |
Net change |
|
Agriculture and Fishing |
5 |
5 |
- |
|
Mining and Energy/Water |
0 |
0 |
- |
|
Manufacturing |
60 |
60 |
- |
|
Construction |
235 |
165 |
70 |
|
Wholesale, Retail and Repairs |
180 |
160 |
20 |
|
Hotels & restaurants |
130 |
105 |
25 |
|
Transport, Storage & Communication |
45 |
30 |
15 |
|
Financial Intermediation |
5 |
5 |
- |
|
Real Estate, Renting & Business Activities |
520 |
330 |
190 |
|
Public Administration, Other Community/Social Activities |
50 |
65 |
-15 |
|
Education, Health & Social Work |
20 |
15 |
5 |
Source: Nomis 2009
