Fall in level of business failures in Wales.
THE level of business failures as a percentage of the overall business population in Wales has fallen, new figures from information services company Experian reveal. In the first six months of this year (HI) the percentage of business failures in Wales was 0.45% of the total business population, compared to 0.52% in the same period last year.
The actual number of business failures in the six month period in Wales was 286, compared to 311 in 2013. For the UK as a whole the overall business insolvency rate was 0.44%. compared to 0.47 % in 2013.
This was led by businesses in the North West of England which saw the biggest turnaround since last year.
During January to June, 0.46% of the business population in the North West of England failed compared to 0.56% of the business population in 2013.
There were only two areas that experienced an increase in business failures. Scotland saw a significant increase in insolvencies from 0.18% in 2013 to 0.28% in H1 2014. The South East of England also saw a small increase, from 0.41% to 0.42%.