Figures show UK business is back on track

The number of UK firms going out of business has fallen to the lowest level since September last year, according to global information provider Experian.

Figures show UK business is back on track
Figures show UK business is back on track

Despite there being some increases on month-to-month comparisons the overall score is significantly lower, which will provide some comfort to the event industry.

Several key event businesses have shut down this year, including European Events, THA Group and Red Snapper Events.

Last month saw a total of 1,796 insolvencies, the lowest number of monthly failures this year.

"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.

"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."

 

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