Business insolvencies fall in November but research shows North – South divide
The latest Insolvency Index from Experian has revealed that the rate of business insolvencies fell to 0.07% in November 2010, down from 0.09% in November 2009, with businesses in southern England faring better than their northern counterparts.
According to the information services company, the South East, South West, Greater London and Eastern England were the regions with the lowest rate at 0.06%, while Yorkshire and the North East had the highest insolvency rate of 0.10%.
The index also revealed that Scotland was the only region to see an increase in failures which rose from 0.04% in November 2009 to 0.07% in November this year.
Max Firth, managing principal of pH, an Experian company, said: "So far this year the insolvency rate has enjoyed a period of relative stability.
"For the last five months it has drifted between the 0.07% and 0.08% mark, which is a more positive picture than last year. Despite the fall in business failures, there continues to be a north/south divide in the overall level of insolvencies."
He concluded: "Regardless of location, all organisations should ensure they understand the financial health those they do businesses with."
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