More than 100,000 businesses were owed money by companies and individuals that became insolvent during 2015, according to insolvency trade body R3.
In total, around 113,000 businesses, the equivalent to 6% of all businesses in the UK were creditors in an insolvency procedure.
Medium-sized businesses those employing 51-250 people were most likely to have been exposed to another firm or individuals insolvency, with one-in-seven (14%) of these businesses owed money by an insolvent individual or company.
Phillip Sykes, R3 president, said: Growing businesses encounter two classic problems: going for growth by taking on new customers without properly checking their creditworthiness; and a lack of controls to monitor their expo…
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