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News - 2 October 2004

UK Businesses gain stability

The economy is recovering and fewer businesses are going bust. According to BDO Stoy Hayward’s insolvency experts global economic recovery is responsible for improved resilience amongst UK businesses.

According to the group's figures, just under 16,000 companies will cease trading in 2004, down from more than 17,500 in 2003 and nearly 20,000 in 2002.

It says stronger economic growth will continue to make a positive contribution, although mounting fuel taxes and payroll costs (due to minimum wage hikes) are expected to squeeze businesses going forward.

Read related items on:
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BDO Stoy Hayward

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