Alarming how many businesses can go under without proper risk strategy and regular monitoring of the business . Luckily the figures are coming down .
The Insolvency Service today published the 4th Quarter 2013 Insolvency Statistics
These can be found at: http://www.insolvencydirect.bis.gov.uk/otherinformation/statistics/201402/index.htm
The headline results are as follows:
There were 14,982 company liquidations in 2013 – a decrease of 7.3% compared with 2012 and the lowest level since 2007. Of these, 3,624 were compulsory liquidations (down 14.9% on 2012 and the lowest level since 1981), and 11,358 were creditors’ voluntary liquidations (down 4.5% on 2012 and the lowest level since 2010).
The number of administrations, receiverships and company voluntary arrangements were all lower in 2013 than in 2012.
There were 101,049 individual insolvencies in 2013 – a decrease of 7.9% on 2012 and the lowest level since 2005. Creditor petitions, debtor petitions and debt relief orders all decreased (by 18.8%, 23.9% and 11.7% respectively). The number of individual voluntary arrangements, however, increased by 4.9% compared with 2012, standing at 48,967 in total.
To discuss how you can protect your business from risk of insolvency contact Reina Dcosta , BizLawUK via email@example.com, check out our website www.bizlawuk.co.uk , follow us on @bizlawuk and claim your free business risk audit.