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Company Formation News
At the start of the economic downturn the media was saturated with news of small companies going bust and the number of recent company formations declining. However, according to a recent report, the number of small businesses going into administration is falling.
According to one business consultancy firm the number of companies increased by 20% during the first quarter of 2009, in comparison to the same period last year.
However, the number of companies going into administration, increased by just 3% when compared against the last six months of 2009.
Matthew Jackson, managing director of business advisory firm catalysts comments; “While the small business sector remains at risk and the number of administrations are still high, our report did reveal a slowing down in the rate of companies failing.”