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.’
Steve Absolom and Will Wright from KPMG Restructuring have been appointed joint administrators to City Motor Holdings and associated companies
Partners from Johnston Carmichael have been appointed as joint administrators to Axon Well Interventions Products UK
Begbies Traynor have been appointed administrators of William Anelay Ltd, York, one of Britain’s longest-established construction and heritage restoration companies
Smith & Williamson has been appointed administrators of charity 4Children