There were almost 7,000 business failures in London and the South East last year, according to figures compiled by Dun & Bradstreet. The North West region had 2,500 and the North East 1,800. These figures represent a slight decrease compared with the previous year.
Company liquidations have continued to fall since their peak in 1985, Dun & Bradstreet say, and levels are back to the 1982 figures. This downward trend is likely to continue. But bankruptcies which affect the small business sector have increased over 1987. “Small businesses cannot be too strongly urged to acquire basic skills in financial administration Dun & Bradstreet advise. “It is essential for them to avoid the lure of overtrading in an economic climate which is still strong and particularly in these times of higer interest rates, to control carefully all accounts receivable.”
