How Many Businesses Fold Each Year In The Uk?
December 23, 2009 | In: UK
I’m trying to write a small sentence about how the number of folding businesses is increasing in the UK each year.
Does anyone have some statistics I could use?
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1 Response to How Many Businesses Fold Each Year In The Uk?
certaxru
December 23rd, 2009 at 5:20 pm
statistics vary on which source you use, as the measurement varies.
About 280 small companies are going out of business every week and the number could increase as the downturn continues to bite, according to the Federation of Small Businesses (FSB). The sector’s losses are still well below the nightmare days of the early 1990s when about 1,000 small businesses a week were closing.
Figures from the Insolvency Service show that about one in every 150 actively traded companies went into liquidation in 2008. The number of compulsory liquidations and creditors’ voluntary liquidations for companies in England and Wales jumped 24 per cent to 15,535 last year.
Equifax figures for the final quarter of 2008 make for particularly hard reading with a Q4 increase in the number of businesses going into administration hitting 24.2%.