Firms opening and closing
Statistics on the following page relate to firms with Recognised Sole Practitioner, Recognised Body or Licensed Body (also known as an Alternative Business Structure) status.
Over the 12 months to end of May 2020, 470 firms have opened, and in the 12 months to end of March 2020, 620 firms have closed. The following chart shows the number of firms that have opened or closed in each month. A peak in firm closures is seen around the renewals period each year.
Note that the closure figures have been updated to include all reasons for closure, such as, ceased practising, mergers, splits and change of status. Previous figures reported related only to firms that had ceased practising. View a breakdown of closure reasons for the 12 month period to end of February 2020.