Insolvencies fall in November - ToyNews

Insolvencies fall in November

The latest Experian Insolvency Index has revealed financial strength of businesses improved last month.
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Businesses across Great Britain saw an improvement in their financial strength score from 79.66 in November 2008 to 81.26 November 2009.

The rate of insolvencies fell to 0.09 per cent for the month, compared to 0.11 per cent in November 2008.

Rolf Hickmann, managing director of pH, an Experian company, said: “The last four months have seen a fairly low and stable rate of insolvencies, compared to 2008, and certainly compared to the heights reached in the last recession in 1992.

"In fact the overall picture shows a very gentle decline in insolvencies throughout the year. Furthermore, the latest improvement in the financial health score is the fifth month in a row that the health of businesses has improved.

“Despite the prolonged recession, the UK’s entrepreneurial spirit continues to thrive. The number of micro businesses, those with one to two employees, is growing rapidly. They are enjoying amongst the lowest rates of insolvency and are relatively secure.”

As in November 2008, the highest insolvency rates during the month continued to be among businesses with 11 to 25 employees (0.24 per cent).

The largest businesses, with over 501 employees, continue to have the best financial strength score, but were the only types to see a drop, albeit marginal, in the score (down from 84.83 to 84.61).

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