Nottinghamshire beating Red Flag alerts
Nottinghamshire businesses struggling to beat the downturn are bucking the national trend, according to research from Begbies Traynor.
According to the corporate recovery specialist's latest Red Flag Alert report, Nottinghamshire businesses reported a 48 per cent drop in 'significant' problems. Issues arising fell to 824 from 1,588 for the first quarter.
The region was also down 25 per cent on 'critical' problems – 33 against 44.
Nationally, there was a 12 per cent increase in the number of critical Red Flag alerts given.
Richard Saville, partner in Begbies Traynor’s Nottingham office, said: "Nottingham appears to be bucking the trend this quarter and this is a pleasant surprise.
"Nottinghamshire has, over the last 20 years seen a decline in old industries allied to coal and textiles, and has successfully attracted niche industries in engineering, service providers and bio-technology. This may be an explanation in part, but there are still difficult challenges to address, even for leaner, fitter companies."
