Isle of Man's new businesses registered (number) was 1,770 in 2024, the latest year in the World Bank's World Development Indicators. That is down 15.39% from 2,092 in 2014 (1.66% a year on average, compounded).
Key figures
| Value | Year | |
|---|---|---|
| Latest | 1,770 | 2024 |
| Five years earlier | 1,543 | 2019 |
| Ten years earlier | 2,092 | 2014 |
| Highest | 4,164 | 2008 |
| Lowest | 1,543 | 2019 |
| Average since 2015 | 1,783 | 2015–2024 |
| First recorded | 3,694 | 2006 |
What the numbers say
In 2024, Isle of Man's new businesses registered (number) fell 1.6% on 2023 (from 1,798 to 1,770).
Across the 17 yearly changes before that (2007 to 2023), the average change was −2.6% and a typical year strayed about 16.3% from that (the standard deviation). This year's change was 0.1 standard deviations above that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.
On record, the biggest yearly rise was 21.1% in 2017 and the biggest yearly fall was 48.7% in 2009. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.
From 2015 to 2024 there is no clear straight-line trend: a straight line explains 18% of the movement over 10 observed years, so the value is moving around more than it is heading anywhere.
Worked out from the yearly values above. How the checks work: standard deviation, z-scores and straight-line trends.
How it compares
In 2024, Isle of Man had the 108th highest value of the 127 economies reporting that year. Higher is not always better: for some indicators the lowest value is the one to aim for. See the full ranking.
Closest to Isle of Man in the 2024 ranking
- Gabon — 105th of 127: 2,373
- Madagascar — 106th of 127: 2,206
- Gambia, The — 107th of 127: 2,196
- Fiji — 109th of 127: 1,665
- Guyana — 110th of 127: 1,546
- Barbados — 111th of 127: 1,517
What this measures
New businesses registered are the number of new limited liability corporations (or its equivalent) registered in the calendar year.
Limitations: The definition of entrepreneurship used is limited to the formal sector. Yet, it should be noted that the exclusion of the informal sector is based on the difficulties of quantifying the number of firms that compose it, rather than on its relevance for developing economies. Data collected from economies categorized as offshore financial centers by Eurostat are excluded from the analysis, because registered entities in these countries may not fit the objective of the Entrepreneurship Database aiming at measuring formally registered companies with actual economic activities.
All 19 values
| Year | New businesses registered (number) |
|---|---|
| 2024 | 1,770 |
| 2023 | 1,798 |
| 2022 | 1,680 |
| 2021 | 1,727 |
| 2020 | 1,628 |
| 2019 | 1,543 |
| 2018 | 1,672 |
| 2017 | 2,218 |
| 2016 | 1,832 |
| 2015 | 1,960 |
| 2014 |
New businesses registered (number) in nearby economies
More private sector & trade data for Isle of Man
Every indicator for Isle of Man is on the Isle of Man data page.
Reading data like this
Questions people ask
- What is Isle of Man's new businesses registered (number)?
- 1,770 in 2024, according to the World Bank (World Development Indicators).
- How has it changed since 2006?
- It is down 52.08% from 3,694 in 2006 (4% a year on average, compounded). The highest value was 4,164 in 2008 and the lowest 1,543 in 2019.
- How does Isle of Man rank?
- 108th highest of 127 economies with data for 2024.
- Is the latest change in new businesses registered (number) unusual for Isle of Man?
- In 2024, Isle of Man's new businesses registered (number) fell 1.6% on 2023 (from 1,798 to 1,770). Across the 17 yearly changes before that (2007 to 2023), the average change was −2.6% and a typical year strayed about 16.3% from that (the standard deviation). This year's change was 0.1 standard deviations above that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.
Source
World Bank, World Development Indicators, indicator IC.BUS.NREG, licensed CC BY 4.0. Original source: Entrepreneurship Database, World Bank (WB), uri: https://www.worldbank.org/en/programs/entrepreneurship Figures are fetched from the World Bank API and refreshed monthly; see the series on data.worldbank.org. The full definition and method are in the World Bank's metadata glossary. Comparisons use the same World Bank release.
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