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.
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.’
The numbers you crunch tell a story. Your expertis...
21yEmbracing user-friendly AP systems can turn the tide, streamlining workflows, enhancing compliance, and opening doors to early payment discounts. Read...
View articleOrganisations can enhance their financial operations' efficiency, accuracy, and responsiveness by adopting platforms that offer them self-service cust...
View articleIn a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...
View resourceDiscover how AP dashboards can transform your business by enhancing efficiency and accuracy in tracking key metrics, as revealed by the latest insight...
View articleBody Shop, Ted Baker, Farfetch, MatchesFashion and Wilko among latest retailer insolvencies. Number of businesses in trouble are the highest in five y...
View articleInsolvency statistics in the UK for the second quarter of 2023 were the highest since 2009 with 83% of them relating to small businesses Read More...
View articleThere were 6,342 recorded company insolvencies in Q2, reflecting a 9% increase compared to the number of insolvencies in Q1, and a 13% increase compar...
View articleThe survey paints a “brightening” picture of the global economy, according to the ACCA Read More...
View articleThe pandemic may have “distorted” some economic data Read More...
View articleAdvisory firms must offer a “more supportive” and holistic approach to clients amid the economic downturn Read More...
View articleHaving a clear plan and clean data to help optimise the use of scarce resources will be key for businesses Read More...
View articleThe Coronavirus Job Retention Scheme has supported millions of jobs amid the pandemic, but with the support measure set to end in September, how can a...
View article