Increasing rate of insolvencies


4 May 2023

Author: Steve Pugh

Graphic demonstrating inflation

This short film from Bloomberg highlights the challenges UK small and medium sized businesses are having, resulting in an increasing rate of insolvencies.

With SME’s making up 99.9% of UK businesses (employing over 60% of all workers) the next 12-24 months might only get harder.

We really need to stick together to get through this.

Friends, colleagues, relatives might be struggling. Give a helping hand if you can, and empathy for those who may need to cease trading or close their business.

In a storm we need to band together.

The winds are picking up, the boat has cracks in it, but as a group we can solve any problem we face.

Success can be simply making it to safety to rebuild when the storm passes.

The days of bravado are gone. The time of compassion and resilience is on us.

#business #inflation #costofliving #insolvency


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