Insolvencies drop in Yorkshire say Experian

There has been a drop in the number of business insolvencies in Yorkshire, according to the latest Business Insolvency Index from Experian.

The information services company said 106 businesses were declared insolvent in August 2012, down 11 per cent on August 2011.

Experian said last month’s figures meant 0.08 per cent of Yorkshire’s business population was declared insolvent, compared with 0.1 per cent a year ago.

Yorkshire also experienced a fall from this July’s figure of 0.11 per cent – the biggest month-on-month drop of all UK regions.

At a national level, 1,723 companies failed in August 2012 – the same rate as in July 2012 – and similar to the August 2011 figures when 1,563 companies were declared insolvent.

Max Firth, managing director of Experian Business Information Services, said: “Since March we’ve seen insolvency rates flatten out, which is a positive and welcome trend.”

“In addition, we’ve seen real pockets of improvement, such as in Scotland and Yorkshire, which have been sustained over a number of months now.”

“But firms cannot afford to be complacent. They need to continue sensible financial practices such as risk planning and monitoring their financial health and those of their customers and suppliers.”