News and Events

Business failures fall again

21/08/2012

Despite the ongoing challenges facing UK businesses at present, with late payment in particular a constant thorn in their side, monthly figures from Experian have found that corporate insolvencies fell last month.

Its latest Business Insolvency Index found that, although 1,776 businesses failed in July 2012, this was down from 1,962 on an annual basis.

While the insolvency rate for the country’s largest firms almost halved from 0.15% to 0.08% over the same period, improvements could also be seen among the smaller companies. Despite bearing the brunt of many of the challenges prevalent currently, the group’s insolvency rate fell from 0.26% to 0.19%.

These figures echo those released by The Insolvency Service earlier this month, which found business failures in Q2 2012 fell on both an annual and quarterly basis to provide further encouragement to those struggling to keep their heads above water at present.