About the data
Survival rates for Devon businesses are higher than the national and regional averages across periods from 2 to 5 years. For 1 year survival rates the number is only 0.8% below the national level. 3 years after creation 65.4% of businesses in Devon will still be in operation compared to 61.2% nationally. While this may demonstrate an entrepreneurial flair in the County, which is reinforced by the high proportion of self-employment, high survival rates can also reflect low churn rate (businesses opening and closing) demonstrated by stagnant markets and inefficient businesses.
This situation of low churn is reinforced by the gap between the births and deaths rate in Devon, though this does mean the volume of businesses in the economy is growing. This benefits employment, earnings and output.
Last Updated: March 2019