Business failures decline

Business failures have fallen to the lowest level since the start of the recession, according to figures released by global information services company Experian.

The research revealed that 0.09% of UK businesses failed during August this year, the lowest number of monthly failures so far in 2009. Compared to July the total number of insolvencies fell by 23% in August to a total of 1,796.

“Although it is too early to tell whether this is an indication of a more positive outlook, one thing is for sure: businesses are distinctly aware of the current environment and the need to be cautious in any business dealings," said Rolf Hickman, managing director of pH, an Experian company.