A new report from KPMG has revealed that the number of business failures in Scotland were down during the first three months of 2017. The report also found that the energy sector is stabilising. The data suggested that company insolvencies in Scotland dropped by 19 per cent, to 170, from 211 in the same months in 2016. The latest research will be seen as a positive sign for the Scottish economy following the Brexit vote and ahead of the snap UK general election in June.
Head of restructuring for KPMG, Blair Nimmo said “While insolvencies are inevitable in a corporate environment, the latest statistics present a good picture for Scotland, and we have returned to what we would call ‘normal’ or ‘business as usual’ levels.”
The report also found that the insolvency decrease is twofold with liquidations down 20 per cent and administrations down 14 per cent. If you are interested in finding out more about credit insurance and securing your business against business insolvency, please contact us on 01275 817320.