business failure figures

Business Failure Figures Lower than 2010

Strong management and cost-cutting helped reduce the number of UK business failures by 7.9% over the last year, credit management firm Equifax has found. Equifax collated public figures for their January to February 2011 Business Failures report, which found that nearly 8 per cent fewer businesses went under than in the same period last year. The survey included businesses of all sizes, but Equifax said it was representative of how small businesses have fared over the past year. The firm attributed the figures partly to good business management, such as cost control and cashflow management. “There are probably more small businesses practising good credit and cashflow management now than before the recession.” said Equifax external affairs director, Neil Munroe. “Some smal... »