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Insolvency lawyers still a real prospect for firms?

Published on 12 May 2010 under category: legal

Business confidence has slipped again after an unexpected spike in March, according to a new survey.

Lloyds TSB's Corporate Markets Business Barometer has found that almost half of firms (42 per cent) expect business activity to stay the same as last year, despite lifting economic conditions.

This is a six per cent rise on March's survey, which showed that only 36 per cent of firms expected their trading activity to remain static.

The figures support recent research which found that corporate insolvencies have been on the rise, which has in turn prompted an increased need for insolvency lawyers.

Seventeen per cent were pessimistic about their business prospects - a rise of two per cent on the previous month's figures.

Trevor Williams, the chief economist at Lloyds TSB Corporate Markets, said: "Although business confidence appears to have come off the boil this month, we need to be careful about interpreting the results.

"Expectations for improvements in business activity may have slipped, but they are still comfortably in line with the long term average - and that's a good indication that long term growth prospects remain positive."

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