Fall in number of business failures

Business failures in Yorkshire are down by almost 30 per cent year on year, making it the most improved region along with the North East.Figures from Experian show 126 insolvencies in October in Yorkshire and the Humber region, compared with 179 a year earlier.

By The Newsroom

Published 21st Nov 2010, 21:27 BST

Updated 21st Nov 2010, 21:27 BST

Yorkshire's insolvency rate dropped from 0.15 per cent of total businesses a year ago to 0.07 per cent.

National figures show 1,635 UK businesses failed last month, 17 per cent fewer than the 1,976 insolvencies in October 2009, which Experian said generally reflects the long-term improvement in insolvencies.

Mid-sized companies with 51 to 100 or more employees were the only businesses to record an increase, with the insolvency rate leaping to 0.24 per cent from 0.19 per cent.

Max Firth, managing principal of pH, an Experian company, said: "It is encouraging that the business population in general is faring better in terms of insolvencies than this time last year, despite mid-market failures increasing in October."

Yorkshire Humber