Get Ready for Economic Storms in 2011 Warn Business Advisers18:52 - Monday 16 August 2010 - In Category Money
While statistics show that company insolvencies in England and Wales have been falling for over a year, the governor of the Bank of England, Mervyn King, claims the UK economy faces a ‘choppy recovery’ until 2012 at the earliest.
Although the fall in bankrupt businesses is good news, these figures don’t tell the full story.
Over the past 12 months, Insolvency and Law, which provides expert rescue advise to struggling businesses, has experienced a 30 per cent increase in customer enquiries.
Peter Murray of Insolvency and Law said: ‘The increase in trade we’ve received suggests a rise in the number of small businesses that are in trouble.
‘And if the Bank of England’s forecast is accurate, small companies in particular will find it more difficult to remain solvent.’ Contact Insolvency and Law today to receive free and confidential business rescue advise: 020 7504 1300