lowest rate

Insolvencies Hit Lowest Rate for 30 Months

Insolvencies Hit Lowest Rate for 30 Months

The rate of business failures fell to its lowest level in January this year since June 2007, figures from credit reference agency Experian have revealed. Its monthly Insolvency Index found that the number of businesses going under in January 2010 dropped to seven in every 10,000 firms — or 0.07%.  This compares with 0.09% in January 2009 and 0.06% in June 2007.  The research found that firms with just one or two employees had the lowest rate of insolvencies, with just four out of every 10,000 firms failing in the first month of this year. Experian attributed this to the lower overheads associated with employing fewer staff. “It’s encouraging to discover that not since the current financial crunch started have so few firms become insolvent in a single month,&rdqu... »