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Financial health of UK firms improves across all areas

30 May 2013

Financial health of UK firms improves across all areas

New figures have revealed that 1,564 businesses failed during April 2012, representing 0.08 per cent of the business population. In comparison, 1,808 firms failed in April last year, representing 0.10 per cent of the business population.

All areas of the UK saw their average financial health score improve – from an average of 83.24 in April 2011 to 83.76 during April 2012. The biggest improvement came from firms in Scotland – from 82.55 last April to 83.66.

Max Firth, UK Managing Director for Experian’s Business Information Services division, said: “Today’s figures show a more stable business environment, with some areas and sectors that have historically seen the highest rates of business failures moving in the right direction.

“Since January 2009, when the average financial strength score of UK firms had fallen to its lowest level recorded, there has been a definite and positive upward trend. Combined, these two valuable indicators show how UK businesses are faring and highlight areas where there are opportunities, as well as risks.”

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