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Small businesses prove to be more resilient
The latest Insolvency Index from Experian, the global information services company, has revealed a year-on-year fall in business insolvencies during April in the UK. The total number of insolvencies fell by 15.1% during April compared to the same month last year – from 2274 in April 2009 to 1818 in April 2010.
As a result, this brought the year-on-year insolvency rate down from 0.11% to 0.10% in April. The overall financial strength score[1] of UK businesses also improved, from 80.02 in April 2009 to 80.76 in April this year.
Mid-sized businesses suffered the most in April. Companies with 26-50, 51-100 and 101-500 employees experienced the highest rate of insolvencies in April 2010 at 0.22, 0.26 and 0.24% respectively.
