New statistics reveal a concerning rise in company insolvencies in the UK, with a 6% increase from December 2024 and 11% from January 2024. Giuseppe Parla, Business Recovery Director, notes a stark contrast between December's stability and January's surge in insolvencies. High inflation and tax burdens are squeezing businesses, while rising costs and reduced asset values further complicate recovery efforts. Parla emphasizes the urgency for businesses to seek help early and looks to government financial policies for potential relief in improving economic conditions.
Stats released today by The Insolvency Service unveiled a 6% increase in company insolvencies in the year ending January 2025 compared to the month before.
While December figures painted a picture of economic stability, January delivered a new wave of corporate insolvencies as British business continues to be hit hard.
Cuts to the bank base rate however may provide a lifeline for many businesses calling out for affordable borrowing.
As ever, our message would be for businesses to act early if they anticipate financial trouble.
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