Business start-ups and closures

Business start-ups and closures

Source: City of Seattle Department of Finance and Administrative Services (March 2012)

Key Findings

In 2012, Seattle has reported 4,700 new business licenses. Business closures in 2011 total 500 year-to-date, only 13% of total closures in 2011, as of September 2012.

The total net number of citywide businesses increased from 2011 to 2012 by 10.5% (400 businesses) based on current Opening and Closing records to date.

Approximately 53,400 businesses are located in the City of Seattle, as of August 2012, based on City of Seattle business license records of payment.

Notes:

• Citywide business license estimates are based on the total number of businesses with a Seattle address that have paid license fees within a given year. Openings represent businesses reporting a start date in that year, and closures represent business licenses that have been terminated within a given year. Data for 2012 do not reflect a complete count of licensed businesses, only those that have paid to date. Additionally, data processing lag may attribute a large number of closures in years later than actual close-of-business.
• Historical business license data are continually updated with new information on business openings, closures and licensing renewals. All historical estimates are subject to revision as new data become available. Net change in total businesses varies from the net change in openings and closures for a given year due to data limitations, such a lags in reporting and lags in processing license reports.