Firm failures falling

The number of UK limited companies failing in the third quarter of 2003 fell by 12.2 per cent compared with the third quarter of 2002, according to the latest figures released by Experian. The Printing, Paper and Packaging sector fared particularly well, with a 43.5 per cent drop in the number of failures.

Experian’s Phil Cotter comments: “The continued decline in business failures reflects the broader economic trends that indicate the first signs of recovery in the UK economy. But this shouldn’t be an excuse for complacency. If the economy has indeed turned the corner, every manager of a business, large or small, needs to be extra vigilant to ensure their company doesn’t fall victim to the overconfidence of their customers by continually checking their financial stability.”

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Experian