Recent figures show that over 5000 businesses have gone bust so far this year. There has been a 4.3% rise on liquidations during the first quarter of 2012 on the same period in 2011.4,303 liquidations have occurred during the time period.
There has also been a 1.8% rise on the period Q1 2011 to Q1 2012. 1,290 other forms of insolvencies have also taken place. These include administrations, receiverships and CVA’s.
It is believed by professionals in the industry that the situation will get worse before it gets better, with many more businesses failing in 2012.
Many companies are only currently surviving due to creditors propping them up. An increase of pressure from creditors could push companies over the edge and bring to light the number of companies that are truly struggling with debt.
Don’t let your company fail. Contact Beer & Young to discuss business angel investment and see if you can save your business!
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