Menu
02/01/2002
Business failures continue to drop despite economic downturn
The number of business failures in the UK dropped last year by nearly one per cent according to the annual tally of business casualties published by business information company D&B.
The total number of failures, the figures exclude Northern Ireland, has dropped from 40,847 last year to 40,532 at the end of this year - a fall of 0.8 per cent. But there was a large increase in business collapses in the capital.
Mr Philip Mellor, Senior Analyst for D&B, said: “Business failures have fallen for the second year in succession. The last quarter’s tally is six per cent down on the previous quarter (9,864 failures compared with 10,504). Although the annual rate of decrease is slight, it still provides a good deal of New Year cheer when you consider the general economic slowdown. It shows that business, outside the capital, are surviving well.”
There are, however, wide regional variations. The largest increase in business collapses occurred in London where business failures rose by 8.3 per cent.
The number of business failures also rose significantly in Scotland by 6.6 per cent. Because of differences in bankruptcy regulations they cannot be compared with the rest of the country.
The South East recorded a 7.4 per cent drop in business failures - the highest for any region of the country followed by Wales with a 6.7 per cent drop and the South West (-5.3 per cent).
Small businesses did even better than larger businesses. The number of small business bankruptcies fell by 2.4 per cent from 24,373 to 23,790. On the other hand the number of larger company liquidations increased by 1.6 per cent from 16,474 to 16,742. (CD)
The total number of failures, the figures exclude Northern Ireland, has dropped from 40,847 last year to 40,532 at the end of this year - a fall of 0.8 per cent. But there was a large increase in business collapses in the capital.
Mr Philip Mellor, Senior Analyst for D&B, said: “Business failures have fallen for the second year in succession. The last quarter’s tally is six per cent down on the previous quarter (9,864 failures compared with 10,504). Although the annual rate of decrease is slight, it still provides a good deal of New Year cheer when you consider the general economic slowdown. It shows that business, outside the capital, are surviving well.”
There are, however, wide regional variations. The largest increase in business collapses occurred in London where business failures rose by 8.3 per cent.
The number of business failures also rose significantly in Scotland by 6.6 per cent. Because of differences in bankruptcy regulations they cannot be compared with the rest of the country.
The South East recorded a 7.4 per cent drop in business failures - the highest for any region of the country followed by Wales with a 6.7 per cent drop and the South West (-5.3 per cent).
Small businesses did even better than larger businesses. The number of small business bankruptcies fell by 2.4 per cent from 24,373 to 23,790. On the other hand the number of larger company liquidations increased by 1.6 per cent from 16,474 to 16,742. (CD)
Related Northern Ireland Business News Stories
Click here for the latest headlines.
06 November 2015
Council Hosts 'Small Business Saturday Bus Tour'
Belfast City Council hosted the 'Small Business Saturday Bus Tour' at City Hall on Thursday, 05 November, which is touring the UK to highlight small business success and encourage people to 'shop local'.
Council Hosts 'Small Business Saturday Bus Tour'
Belfast City Council hosted the 'Small Business Saturday Bus Tour' at City Hall on Thursday, 05 November, which is touring the UK to highlight small business success and encourage people to 'shop local'.
13 March 2020
Coronavirus Business Interruption Loan Scheme
A loan scheme to support businesses interrupted by the coronavirus outbreak is to be up and running in the coming weeks, the Chancellor has announced. Detailing Budget 2020, Chancellor Rishi Sunak said the Coronavirus Business Interruption Loan Scheme will temporarily replace the Enterprise Finance Guarantee (EFG).
Coronavirus Business Interruption Loan Scheme
A loan scheme to support businesses interrupted by the coronavirus outbreak is to be up and running in the coming weeks, the Chancellor has announced. Detailing Budget 2020, Chancellor Rishi Sunak said the Coronavirus Business Interruption Loan Scheme will temporarily replace the Enterprise Finance Guarantee (EFG).
20 November 2001
LEDU reveal Top 100 winners in small business sector
A Lisburn firm has been named as LEDU’s fastest-growing client company following the publication of the agency’s list of the hundred best performing small businesses in the province. Engineering firm Power Action scooped the top slot after the company saw their turnover grew by four-fold in just three years.
LEDU reveal Top 100 winners in small business sector
A Lisburn firm has been named as LEDU’s fastest-growing client company following the publication of the agency’s list of the hundred best performing small businesses in the province. Engineering firm Power Action scooped the top slot after the company saw their turnover grew by four-fold in just three years.
11 April 2002
UK new investment projects fall
The latest Ernst & Young European Investment Monitor survey has revealed that the number of new investment projects into Europe in 2001 fell by 12 per cent on 2000 figures. Countries that performed poorly in 2001 included the UK with a 34 per cent decline from 575 projects to 377.
UK new investment projects fall
The latest Ernst & Young European Investment Monitor survey has revealed that the number of new investment projects into Europe in 2001 fell by 12 per cent on 2000 figures. Countries that performed poorly in 2001 included the UK with a 34 per cent decline from 575 projects to 377.
10 December 2001
Further falls in price of UK manufactured goods
The Office of National Statistics have produced a report which shows that the price of goods manufactured in the UK have fallen in the last month. Between October and November the UK producer prices fell by 0.4 per cent, compared with a fall of 0.2 per cent between September and October.
Further falls in price of UK manufactured goods
The Office of National Statistics have produced a report which shows that the price of goods manufactured in the UK have fallen in the last month. Between October and November the UK producer prices fell by 0.4 per cent, compared with a fall of 0.2 per cent between September and October.
-
Northern Ireland WeatherThis Evening and Tonight:A dry night, save for a few light showers around the coasts, with prolonged clear spells and light winds bringing a frosty dawn for many in central and southern parts. Minimum temperature -3 °C.
