BUSINESS failures among small firms fell noticeably during April, according to a report.
Figures from business information group Experian showed that 1,808 UK companies went bust last month – 0.55% down on the figure of 1,818 for the same month in 2010.
The failure rate among firms employing three to five employees fell by 17.04% while the rate for those with 26 to 50 staff was down by 24.59%.
However, failures among medium-sized companies with 101 to 500 employees increased by 4.44% while large company insolvencies – firms with more than 500 workers – rose by 9.09 %.
Regional figures showed there were 143 company failures across Yorkshire – down by 4.03% on April, 2010.
The biggest improvement was in the East Midlands, where insolvencies fell by 36.21% year-on-year. Eastern England, the South East and the North East saw failures increase by 26.16%, 14.68% and 13.73% respectively year-on-year.
The survey showed that the worst-hit sector was property, which saw a massive 70.37% year-on-year increase in failures.
