BusinessBusiness RecoveryMore SMEs going under in 2003

More SMEs going under in 2003

Small business failures have risen by 11.3% in the first three quarters of 2003 compared to the same period last year, according to a Bank of England report.

Link: SMEs ‘wasting’ profits

Small companies in the eastern counties were hardest hit with a 24.4% increase. The South West saw a 23.8% rise and the South East 21.4%.

The North West provided the most stable environment for small businesses with only a 1.8% increase.

The Bank of England’s quarterly study of SMEs included figures on bankruptcies and liquidations from business information provider Dun & Bradstreet. The Tory party said the report was evidence of the government?s poor record on small businesses.

Conservative MP Tim Yeo said: ‘Smaller firms are the lifeblood of our economy and deserve a fair deal to continue creating wealth and boosting job creation. It is clear now, that after six years, Gordon Brown is catastrophically failing to build an enterprise culture for small firms to thrive.’

Related Articles

Carillion CFO blew whistle over “sloppy accounting” months before collapse

Business Recovery Carillion CFO blew whistle over “sloppy accounting” months before collapse

2m Alia Shoaib, Reporter
Toys R Us UK and Maplin enter into administration after failing to secure buyers

Business Recovery Toys R Us UK and Maplin enter into administration after failing to secure buyers

2m Alia Shoaib, Reporter
How to avoid a Carillion collapse

Business Recovery How to avoid a Carillion collapse

3m Russell-Cooke
Carillion collapse: The week so far and industry reaction

Business Recovery Carillion collapse: The week so far and industry reaction

3m Emma Smith, Managing Editor
Kingston Smith & Partners appointed trustees in bankruptcy of ex-Newcastle United footballer

Business Recovery Kingston Smith & Partners appointed trustees in bankruptcy of ex-Newcastle United footballer

3m Emma Smith, Managing Editor
Carillion: PwC appointed as special managers – what happens now?

Business Recovery Carillion: PwC appointed as special managers – what happens now?

3m Emma Smith, Managing Editor
Investment firm acquires Avon Steel Company Limited

Business Recovery Investment firm acquires Avon Steel Company Limited

5m Emma Smith, Managing Editor
Manchester law firm enters into administration

Business Recovery Manchester law firm enters into administration

5m Emma Smith, Managing Editor