Region's business failure numbers rise
The number of business failures in the East Midlands has risen by 3.4 per cent in the third quarter of 2010. The region has bucked the UK-wide trend of falling insolvencies, according to information solutions company Equinox.
Equinox’s business failures report reveals that the number of companies failing in the third quarter of 2010 in the East Midlands remains the same as 2009’s comparable period.
Across the country, businesses experienced a 13.4 per cent year-on-year drop in insolvent businesses from the second to the third quarter of the year.
Nic Beishon, head of Equifax Dommercial Information Solutions, said: “There is no question that the economy is still fragile, and there is much anticipation about the impact of the government Spending Review and the VAT increase in January.
"Whilst our latest analysis of the business failures data is encouraging and shows that all sorts of organisations are taking steps to tackle late payments and bad debts, there is still a long way to go.
