Fewer businesses crashing boosts hope of end of recession
THE rate of businesses going under has started to drop, City analysts report today. The rate of failures has slowed down from the very high year-on-year rises we saw at the end of 2008
THE rate of businesses going under has started to drop, City analysts report today.
The 'slow down' has been better in London over the past three months than the rest of the country, according to a survey.
The number going bust is down by 17 per cent compared with 13-and-a-half per cent across the UK.
"The rate of failures has slowed down from the very high year-on-year rises we saw at the end of 2008," said Equifax business information director Neil Munroe.
You may also want to watch:
"This must give some confidence to businesses in general and the economy as a whole.
"But this is just one quarter. We need to see consistent improvements before we can be fully confident that we are out of the recession."
- 1 14 charged with alleged drug dealing and money laundering offences
- 2 19 arrested and cash seized in East End dawn drug raids
- 3 'Utterly horrific': Tower Hamlets MPs react to Sir David Amess stabbing
- 4 Police officers save lives in two sperate emergencies on same shift
- 5 £18,000 awarded to Bethnal Green church to bring loo up to scratch
- 6 Prison sentence increased for 'violent and dangerous' man
- 7 Lock-up garage space in Spitalfields used for social housing
- 8 Man, 19, charged after alleged sexual assaults in Tower Hamlets
- 9 Volunteers thanked for running East End food bank for 70 weeks
- 10 Police called as furious families told to quit Bow's 'dangerous' block
Yet this is "a definite sign" of the economy picking up from the sharp downturn which kicked in last year, he believes.
The three months from July to September is the first financial quarter for over a year when every business sector reports a drop in failures.
But analysts warn organisations not to 'take their eye off the ball' in risk management and find themselves in trouble and end up again with bad debts on their books.