Business failures fall

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The number of business failures is continuing to fall in 2010, according to business information provider Equifax.
January saw a 9.2 per cent drop in businesses going under compared to December. The decrease was most pronounced in the service sector with a fall of 15.3 per cent while retail, construction, and transport and communications were also down.
However, there were increases in manufacturing and wholesale.
Neil Munroe, external affairs director at Equifax, said: “From the middle of 2009 onwards we could see that the rate of failures in businesses was slowing down, compared to the end of 2008 and the early part of 2009.  The figures for the last Quarter showed a continuation of this trend, so we are not surprised to see the first month of 2010 sustaining this pattern.”

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