The total number of business insolvencies fell by 15.1% during February compared to the same month last year, from 2,160 in February 2009 to1,834 in February 2010, bringing the rate of insolvencies down from 0.11% to 0.10%, according to Experian.
In comparison to the insolvency rate recorded in January (0.08%), it was an increase. However, January has in previous years been a quiet month for insolvencies and despite the January to February increase, it still follows an overall downward trend.
The overall financial strength score of UK businesses continued to improve, from 79.76 in February 2009 to 81.18 in February this year. The score also saw a small month-on-month improvement from 81.16 in January.
Rolf Hickmann, managing director of pH, an Experian company, said: “Small businesses have far more flexibility than any other business type. It is easier for smaller businesses
