A fall in the number of start-up businesses in the East Midlands, as well as a rise in insolvency activity, indicates a significant economic challenge for local entrepreneurs entering the final quarter of 2023.
This is according to the Midlands branch of national insolvency and restructuring trade body R3 and is based on an analysis of data from business intelligence provider Creditsafe.
R3s figures show a month-on-month decrease of 5.81% in the number of businesses set up in the East Midlands in September, falling from 2,462 to 2,319, while insolvency-related activity which includes liquidator and administrator appointments as well as creditors meetings rose by 36.05% over the same period.
R3 reports, however, that business cashflow c…
Read the full article at: https://www.eastmidlandsbusinesslink.co.uk/mag/news/east-midlands-entrepreneurs-take-a-hit-as-insolvency-activity-rises-and-start-ups-fall-yet-cashflow-continues-to-improve/