Insolvency advice needed most by firms with 101-500 employees

Published on March 8, 2013 by Crawfords Accounting

Companies that employ between 101 and 500 people could be in greatest need of insolvency advice, as the only size of firm to have experienced an increase in business insolvencies year-on-year in January.

The latest figures from Experian show 0.11% of those sized companies entered insolvency in January 2013, a modest increase from 0.10% the previous year.

While the rise is fairly small, it is the only increase in terms of company size across the board – all other sizes stayed the same or decreased year-on-year.

Overall, the insolvency rate stood at 0.06% for the month, down annually from 0.07% and leaving firms with 101-500 employees at almost double the average risk.

Micro-businesses are proving resilient to the economic turbulence, with the lowest insolvency rates among those with 1-5 employees, and among medium-sized businesses with 51-100 employees.

Other sizes of workforce, however, may also need insolvency advice in the months to come, as all saw year-on-year improvement but stay at a higher rate than the 101-500 range.

Firms with 6-10 workers saw an insolvency rate of 0.12% in January, 11-50 saw 0.14%, and the biggest firms, with 501+ employees, were most at risk, at 0.15%.

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