The Institute of Chartered Accountants in England & Wales has recently published its Business Confidence Index for the second quarter of 2019. And pretty grim reading it is.
When an increase in business is too good to be true
It’s been a tough few years, but hopefully things are at last looking up. Orders are starting to come through and the business world looks a much rosier place.
It’s been an odd few years…
Given the state of the British economy and the difficult business climate, you might have expected insolvency practitioners to be rushed off their feet. In fact, the level of business insolvencies, both company insolvency and for individuals, has been remarkably low.
Use insolvency advice as prevention not just a cure
Many businesses have been faced with seeking insolvency advice as the tough economic climate forces many companies out of business or at the very least into financial crisis.
Official statistics from the Insolvency Service revealed that during 2011, there was an increase of between 2% and 4% of businesses going into liquidation, when compared to the year before. The figures for UK businesses were in contrast to that of individuals.