Experian PLC published a report Monday that showed business insolvencies across the United Kingdom rose in September as the country continues to be affected by economic troubles and the euro zone crisis.
There were 1,732 insolvencies last month, up 10.7% from September last year, Experian said. Worst hit were the smallest businesses with just one or two employees, with 258 of these firms becoming insolvent, up 26% from last year.
The largest firms, those with more than 500 employees, saw fewer insolvencies. This segment had 11 insolvencies, or down 27% from a year ago.
"While larger businesses bucked the trend in September, our analysis underlines how important it is that companies understand the financial strength of their customers, suppliers and business partners," said Max Firth, managing director of Experian's Business Information Services in the UK and Ireland.
"This kind of accessible and valuable insight can make all the difference to a business of any size," Firth said.
