UK business failures have fallen to their lowest levels since
September 2008, according to newly released research.
Business failures in the UK have seen an upward trend since
2007, but new figures revealed by Experian have shown that 0.09
percent of UK businesses failed during August this year,
significantly lower than the 0.11 percent recorded in July.
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Experian’s Insolvency and Distress Index showed that there were
a total of 1,796 insolvencies in August, the lowest number of
monthly failures so far this year.
The data also revealed a slight improvement in the financial
solidity of the UK business population, as measured by its average
distress score.
The distress score – which predicts the likelihood of a business
failing in the near future, with 100 being the least likely default
and 1 being the most likely – improved from 80.61 in July to 80.79
in August. This is the best average score the UK business world has
seen in the last 12 months, Experian said.
“Although it is too early to tell whether this is an indication
of a more positive outlook, one thing is for sure: businesses are
distinctly aware of the current environment and the need to be
cautious in any business dealings,” said Rolf Hickman, managing
director of pH, an Experian company.
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By GlobalData“We have seen a significant increase in businesses monitoring
the health of suppliers, customers and partners, as well as
themselves, in order to ensure they do not suffer from the impact
of another business becoming insolvent.”
Jason T Hesse
