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Figures show UK business boost

Published on 24 Nov 2009 under category: legal

UK businesses have reached their strongest financial position since July 2008.

This was stated in the Experian Insolvency Index for active UK firms.

However, the study also revealed that the insolvency rate increased by 0.09 per cent last month, taking this figure to 0.1 per cent.

Despite this increase, the figure for last year was 0.11 per cent, meaning there has been a year-on-year improvement in the insolvency rate.

Rolf Hickman, managing director of marketing analytic experts pH, said: "Throughout 2008, the average financial strength score had been seeing a downward trend, but 2009 has seen a reversal.

"The financial solidity of UK businesses has been improving over the year."

Earlier this month, research from the Insolvency Service showed that the number of personal insolvencies in the UK had risen.

The study revealed that there were 35,242 personal insolvencies in England and Wales during the three months to the end of September.

If you require advice on Insolvency and Bankruptcy please call us on +44 (0)20 7831 0101 and ask for Katherine Sillett.