A National Statistics Publication
Published by: Economic and Labour Market Statistics Branch,
Northern Ireland Statistics and Research Agency

Contact: Neil Mulhern
Email:
Publication Date: 6 June 2024

Theme: Business and Energy
Coverage: Northern Ireland Frequency: Annual
Source: Inter-Departmental Business Register


DETAILED TABLES AND CHARTS

1. Key Points


  • The number of Value Added Tax (VAT) and/or Pay-As-You-Earn (PAYE) registered businesses operating in Northern Ireland in 2024 is estimated to have risen by 810 (1.0%) since March 2023 to 80,045. This marked the tenth consecutive year of increase following a period of decline from 2008 to 2014.

  • The number of businesses in in Production has fallen slightly over the year to March 2024 (30 businesses or 0.5%), which is the second consecutive year of decline. The number of businesses in Services increased slightly by 0.9% (395), whilst the number of businesses in Construction (11,375) is the highest it has been since 2010.

  • The geographical spread of businesses across the 11 district council areas in Northern Ireland remained relatively unchanged, with Belfast having the highest number of businesses (11,445 or 14.3%) and, Antrim and Newtownabbey with the least number of businesses (4,290 or 5.4%).

  • Of those businesses operating in Northern Ireland, 2.8% (2,270) were owned by an enterprise registered outside of Northern Ireland. These businesses accounted for one-quarter of employees. The number of non-locally owned businesses operating in Northern Ireland has increased by 44% over the 10 years since 2014. The comparable number of employees increased by 17%.

  • Since 2014, the total number of registered businesses operating in Northern Ireland has increased by 18%. This was driven by a 19% increase in Services, which amounted to just over 7,000 businesses.


2. NI Business Profile, 2024


  • There were 80,045 businesses registered for VAT and/or PAYE operating in Northern Ireland in March 2024.

  • The majority of businesses (89% or 71,425) in Northern Ireland were micro-sized businesses (less than 10 employees). Just over 2% (1,730) of businesses were medium or large businesses (50 or more employees).

  • Four in ten businesses in Northern Ireland (40% or 32,060) had turnover of less than £100,000, whilst just 13% (10,095 businesses) had turnover in excess of £1 million.

  • The registered business population in Northern Ireland accounts for just under 3% of the total UK figure which was 2.727 million in 2023. The ONS publishes UK business; activity, size and location statistics with data presented by the four UK regions. It is important to note that the ONS data refer to businesses registered in each of the four regions.

Map 1: The highest number of businesses in Northern Ireland was in Belfast City Council area, with the smallest number in Antrim and Newtownabbey.

Number of businesses by District Council Area, 2024

Map of Northern Ireland District Council Areas with number of registered businesses. The highest number of businesses in Northern Ireland was in Belfast City Council area, with the smallest number in Antrim and Newtownabbey.


Figure 1: The majority of businesses in Northern Ireland (89%) were micro-sized businesses. Just over 2% of businesses had 50 or more employees.

Percentage of businesses operating in Northern Ireland by employee size band, 2024


Figure 2: Four in ten businesses in Northern Ireland (40%) had a turnover of less than £100,000, whilst just 13% had a turnover of more than £1 million.

Percentage of businesses operating in Northern Ireland by turnover size band, 2024

3. Change Over 1 Year


  • There were 810 (1.0%) more registered businesses operating in Northern Ireland in March 2024 than in March 2023.

  • Three of the four headline industries experienced growth in the number of businesses over the year to March 2024. The largest growth was in Services (395 businesses or 0.9%), with Agriculture seeing growth of more than 1.0% for the second consecutive year (265 businesses or 1.4%). The number of businesses within Construction grew by 180 to 11,375, whilst there was a small decline (30 businesses or 0.5%) in the number of businesses in Production from 2023.

  • Despite the small increase in the total number of businesses across Northern Ireland in 2024, two of the eleven district council areas saw a decline, the largest of these being seen in Lisburn and Castlereagh (85 businesses or 1.6%). The largest growth in terms of the number of businesses was seen in Mid Ulster (175), with the largest growth in percentage terms observed in Mid and East Antrim (2.0%).


Figure 3: Construction saw the largest growth in percentage terms in the number of businesses over the year to 2024.

Percentage change in the number of businesses operating in Northern Ireland by Headline Industry, 2023 to 2024


Figure 4: The number of businesses increased in nine of the eleven district council areas in Northern Ireland over the year to 2024.

Percentage change in the number of businesses operating in Northern Ireland by District Council Area, 2023 to 2024


4. Change Over 5 Years


  • There were 4,555 (6.0%) more registered businesses operating in Northern Ireland in 2024 than five years earlier in 2019.

  • There were increases in all but one industry during the five-year period, with only Finance and insurance seeing a small decline of less than 1%. The largest increase in percentage terms was in Business administration and support services (18% or 495 businesses).

  • The number of registered businesses operating in the Transport and storage industry increased by just over 17% since 2019. This growth was driven by a surge in delivery services between March 2020 and 2021 (15.4%) during the COVID-19 pandemic. However, the number of businesses in this industry declined over the year to 2024 by 6.8%, which is the second consecutive annual fall and may be indicative of elements within the economy returning to pre-pandemic levels.


Figure 5: The number of businesses in Business administration and support services has grown by 18% since 2019. There has also been a large increase (17%) in businesses operating within the Transport and storage industry, in part due to the COVID-19 pandemic.

Percentage change in the number of businesses operating in Northern Ireland by Broad Industry Group, 2019 to 2024

  • The number of registered businesses operating in Northern Ireland, owned by an enterprise registered outside of Northern Ireland, accounted for 2.8% (2,270) of all registered businesses operating in Northern Ireland and one-quarter (25%) of employees.

  • Non-Northern Irish-owned businesses increased by 20% (380) over the five years to 2024. The number of employees working within these enterprises increased significantly by just under 10% (17,895) over the same period. The equivalent figure for turnover is not available.


Figure 6: The number of businesses operating in Northern Ireland owned by an enterprise registered outside of Northern Ireland increased from the Republic of Ireland, and Rest of the World. The comparable figure declined for Great Britain and the European Union.

Percentage change in the number of non-Northern Ireland owned businesses and employees operating in Northern Ireland, 2019 to 2024



5. Change Over 10 Years


  • There were 12,335 (18%) more registered businesses operating in Northern Ireland in March 2024 than March 2014.

  • Production saw the biggest growth (26%) of the four headline industries over the 10 years from 2014 to 2024. Despite the large growth during this period, business registrations within Production fell over the year, 2023 to 2024 (0.5% or 30 businesses).

  • Construction grew by 24%, Services by 19%, and Agriculture by 12% over the ten-year period, 2014 to 2024.


Figure 7: Of the four headline industries, Production has seen the largest percentage growth in the number of businesses over the 10 years, 2014 to 2024.

Change in the number of businesses operating in Northern Ireland by Headline Industry, 2014 to 2024 (Index, 2014 = 100).


Figure 8: The number of businesses increased in all 11 district council areas over the 10 years, 2014 to 2024. Newry, Mourne and Down saw the largest increase in the number of businesses, whilst Ards and North Down saw the smallest percentage change.

Change and percentage change in the number of businesses operating in Northern Ireland by District Council Area, 2014 to 2024.

6. Background Notes


A series of detailed tables accompany the release of this publication.

Details of the methodology and definitions used in these tables, along with information on the coverage of the statistics, known quality issues, and disclosure control methods are included in the Quality and Methodology Information document on the NISRA website.

The data presented in this bulletin and accompanying tables are taken from a snapshot of the Northern Ireland element of the Inter-Departmental Business Register (IDBR) on 8th March, 2024.

The IDBR contains businesses that are registered for VAT and/or PAYE with HMRC. The IDBR covers most of the economy including agriculture, production and service industries in Northern Ireland. The business activity, or industry, is recorded using Standard Industrial Classification (UK SIC 2007) codes.

Information on foreign-owned businesses operating in the UK is obtained on an annual basis by the ONS from the market information company, Dun and Bradstreet. It should be noted that the foreign ownership data provided by Dun and Bradstreet is not complete and data published from IDBR records may not be the most up-to-date information available at that time. NISRA carries out further disaggregation of the foreign ownership data to allow it to distinguish between Northern Ireland-owned businesses and those owned elsewhere in the UK.