By Ben Simmons
Company failure rates during the first three months of 2012 were nearly 20% lower than the same time period two years ago, according to the latest Graydon UK Insolvency Predictor.
Based on data published today by the commercial credit referencing agency Graydon UK, the number of corporate insolvencies during the first quarter of 2012 were also 22.8% down on the same period three years ago (2009).
The numbers of insolvencies in the first quarter of this year were 3.7% lower than the same period last year. Furthermore, company failures in the first quarter this year are down by nearly 5% compared with the last three months of December 2011. This suggests that company liquidations will continue to decrease this quarter.
“The good news is we are seeing a decrease in the number of business failures,” said Gordon Skaljak, External Spokesperson, Graydon UK. “However, although the threat of a double dip recession may appear to be receding, it is still important for businesses to identify both opportunities and risks if they want to increase their businesses efficiency and bottom line growth.”
This quarter’s Graydon UK Insolvency Predictor has found that the number of insolvencies in the manufacturing sector has decreased slightly following the peak at the end of last year. According to a recent UK Trade and Investment report, the UK is one of the top manufacturers in the world and Government initiatives such as ‘Made in Britain’ and ‘Going for Growth’ are targeted at helping production businesses in order to rebalance the economy.
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