The number of business closures have risen since the Brexit vote, according to the Q3 insolvency statistics released by HMRC last week.
Business insolvencies are up by 2.2% and voluntary liquidations are up by 5.5%, showing that more businesses are choosing to close.
Simon Underwood, partner and business recovery specialist at Menzies, commented on Brexit hitting home: Currency fluctuations and the challenging UK financial market have left many businesses stuck facing rising costs.
The rise in voluntary liquidations is a worrying trend, in that business owners are deciding their company is not financially viable. Adopting a cautious cash management app…
Read the full article at: https://www.accountancyage.com/2016/11/07/analysis-q3-statistics-show-brexit-insolvency-rise-and-shadowy-behaviour/