Stats released today by The Insolvency Service unveiled a 2% decrease in company insolvencies in March compared to the month before, yet remain 9% higher than in March 2024.
Despite company insolvencies falling in March, they remain much higher than last year, with the construction sector taking the brunt of the pain.
If recession is next in a line of challenges for British Business, alongside a heavier tax burden and a decline in investor and lending confidence, we may be hurtling towards a new wave of business insolvencies.
While the impact of Trump’s tariffs on the UK are yet to be felt, supply costs continue to rise, and with the US being the UK’s biggest trade partner, considerable concern is raised for British construction, manufacturing, logistics, retail and trade as they attempt to adapt to an ever-changing geo-political environment.
As ever, our message would be for businesses to act early if they anticipate financial trouble. Doing so ensures that more options are available for you to secure a profitable future and remain trading.
