Failure rates improve amongst UK’s small business community

The health of the UK’s micro and small business community improved in April, according to Experian®, the global information services company.

Experian’s latest Insolvency Index, published last week, reveals that 1,808 UK companies, 0.10 per cent of the active business community, became insolvent in April 2011, 0.55 per cent fewer than the same period in 2010 (1,818).

Failures fell at a faster rate across the majority of the smaller business segments year-on-year, with the most notable reductions amongst the three to five (17.04 per cent fewer) and 26 to 50 (24.59 per cent fewer) employee organisations.

Failures amongst medium sized firms (101 – 500 employees) increased by 4.44 per cent year-on-year, while large company insolvencies (501+ employees) rose by 9.09 per cent.

Despite this, medium and large companies continue to have amongst the lowest failure rates, with just 0.18 per cent and 0.13 per cent of firms in these segments failing during April compared to the previous month.

Read more: http://www.creditman.biz/uk/members/news-view.asp?newsviewID=13720

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