Fewer firms are becoming insolvent according to the latest figures from Experian. Almost all business sizes showed a fall with some 23% fewer businesses which employ 26-50 people falling into insolvency. It was only the larger firms with 500+ employees that saw an increase. This is despite continued economic pressure on business.
Just 1,685 firms went insolvent during October, according to data from Experian, down 8.7 per cent on October 2011, to make up just 0.08 per cent of the total business population.
Leisure and business services saw a fall in insolvencies but building and construction firms were in trouble, with 5.4 per cent more of them becoming insolvent.