According to a report issued today by credit experts Experian, mid-sized businesses showed the highest insolvency rates in 2009, with both large and small businesses showing themselves better able to manage their finances in the credit crunch.
A steep decline in the number of insolvencies in the second half of the year meant that the increase in insolvencies slowed from 29 per cent in 2008 to 12 per cent in 2009.
The company still advises businesses not only to ‘proceed with caution when it comes to both new and existing business clients, but also ensure that their own house in order, so that they themselves are appealing prospects for business.’