Another crop of statistics that show two different stories.
PWC, in their survey of the retail sector, found that just 360 firms failed in the third quarter, a drop of 11 per cent from the second quarter and a 26 per cent reduction on the same quarter last year. PWC mused that this was because most of the weak retailers have already become insolvent. It remains to be seen if these will be the case when public sector cuts come into force.
However, this recession has been different and firms are more flexible than before. This hasn't stopped them from being gloomy though! Deloitte's survey of chief financial officers has more than a third expecting a double dip recession as confidence crashes to its lowest level in 18 months.
Forget all the polls and surveys and concentrate on ensuring your business is CASH positive. Thousands of businesses are making losses it seems for years but if you run out of cash then that is it!
KSA Group can advise on how to stay cash positive and ensure that your business survives the recession. Please see our guide to cost cutting