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Insolvency rate drops again in August

Published: 24 September 2010
Latest figures reveal the rate of businesses going under has dropped to 0.07%, with smaller firms showing the most financial strength.
Insolvency rate drops again in August
According to Experian, the insolvency rate is at the lowest point recorded since June 2007. More than half of the UK's regions, including the North East and, Scotland and Greater London, experienced the lowest rate of insolvencies at 0.06%.

In addition, the average financial strength score for businesses increased from 80.79 in August 2009 to 81.06 in August 2010. The biggest increase in financial strength came from the smallest businesses, with just one to two employees, whose score went from 81.32 in August 2009 to 82.22 in August this year.

The largest businesses monitored by Experian, with more than 501 employees, were the only group to see an increase in insolvency rate, from 0.09% to 0.14% in August this year.

pH managing principal Max Firth said: "This month's picture is very different to the one we saw back in March this year when all regions, bar one, saw an increase in insolvencies and the rate was almost double ay 0.11%. August's figures also show an easing off of the north south divide we saw in June, with the North East going from the region with the highest insolvency rate of 0.0p6%. It continues to be evident how quickly fortunes can change and the importance of closely monitoring the financial health of the suppliers and customers that businesses of all sizes deal with."

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