Rising risk shows north-west’s need for insolvency advice

Published on June 7, 2013 by Crawfords Accounting

New figures from Experian show the continued need for insolvency advice Manchester and north-west firms face, even in a generally improving nationwide climate.

According to the latest report from the credit reference agency, the overall rate of business insolvency stayed consistent in April 2013, compared with the previous year, at 0.08%.

The precise number of business insolvencies rose from 1,564 to 1,714, but this was not enough to affect the rounded percentage figure.

However, in the north-west, an increase from 162 to 196 business insolvencies was enough to subtly influence the percentage, which climbed from the national average of 0.08% to an above-average risk of 0.09%.

While the effect is marginal, it is an indication of the need for insolvency advice Manchester firms are currently experiencing, as part of a region that is not improving as fast as other parts of the country.

The figures show firms with between three and 500 employees all faced risk in excess of 0.10% in April 2013, with only the very smallest and very largest dropping below that threshold, at 0.06% each.

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