Over 1,600 company start-ups were formed in the first four weeks of September - up 15% on the same period last year but insolvencies also rose.
1,623 new companies were formed between the 1st and 28th September 2015 - an average of almost 60 per day. Over a quarter of these new companies (430) operate in the professional services sector (accountants, consultants, legal practices etc).
The wholesale & retail and social & personal services sectors were the second and third most popular industries for start-ups and accounted for 315 new companies between them.
There was good news for the construction sector which saw a 50% increase in numbers this September (146 v 97), but while the news on start-ups was encouraging the situation with corporate insolvencies was less so.
110 companies were declared insolvent in the first four weeks of this September - up 24% on the same period in 2014. The professional services sector was worst affected - accounting for over 25% of insolvencies (29).
The finance sector did not see as many insolvencies but the six fold increase in numbers it experienced can be seen as a contributing factor in the increase in insolvencies - more than 6 times as many insolvencies affected the sector this month compared to the same period last year (19 v 3).
The number of companies that have collapsed this year. This figure is down 11% compared to last year
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PREDICTIVE CREDIT REPORTS
Our Credit Reports are predicting over 80% of insolvencies at up to 6 months in advance.
- 21 Companies
E8 (Notice Of Appointment Of Receiver)
- 7 Companies
- 1 Company
The number of companies that have closed this week.
- 219 Companies
- 494 Businesses
- 294 Companies
HIGH COURT NOTICES
- 1 Company
- 229 Companies
- 0 Company