YORKSHIRE saw a slight fall in business this spring, according to figures out today.
The latest survey by business information group Experian showed there were 129 company insolvencies in the region during April against 132 for the same month last year.
Nationally, 1,714 firms went bust in April compared with 1,564 last time. Construction, wholesaling and the leisure and hotel sector were the worst hit.
The latest Business Insolvency Index from Experian showed that insolvency rates have stayed at the relatively low level of 0.08% for a whole quarter – the first time since 2007 – suggesting a more stable trading environment and increased resilience among firms.
It said there had been a steady improvement over the past two years – with the average insolvency rate for the 12 months to April standing at 0.08% against 0.09% for the previous 12 months.
Experian director Max Firth said: “We’ve seen that the insolvency rate has been decreasing for some time, but the fact that it is staying low is encouraging news.
Among UK regions, Scotland has the lowest rate of insolvency – now standing at an all-time low of 0.03% for five months running.
Firms across northern England saw improvements on last time – with Yorkshire falling from 0.11% to 0/10%, the North West down from 0.12% to 0.09% and the North East falling from 0.12% to 0.10%.