According to Experian compared to July 2012 the insolvency rate for July 2013 has fallen from 0.09% to 0.08% of all registered firms. There has been a rise however in the number of larger firms i.e 500+ employees but given there are relatively few larger firms failing then one should not pay too much attention to just one months figures.
Regionally the picture is interesting. Scotland maintained its low insolvency rate of 0.03 per cent for the eighth month running. Outside Scotland, companies in Yorkshire saw a drop in insolvencies compared to July last year from 0.11 per cent of the Yorkshire business population to 0.09 per cent – making this the eighth month that the region has seen a year-on-year fall. A similar drop was seen in the West Midlands, from 0.11 per cent to 0.09 per cent.
Only companies in London and the South East showed a slight rise in their insolvency rate.
By sector shows that construction is seeing better times specifically with its insolvency rate falling from 0.17% to 0.13%