IT firms see fewer failures in September, says Experian

IT firms saw a slight fall in the rate of insolvencies during September, bucking current trends, according to financial services firm Experian. Experian counted 53 IT companies through the pearly gates last month, representing 0.05% of the British IT sector, and down 20.9% on September 2010.

IT firms saw a slight fall in the rate of insolvencies during September, bucking current trends, according to financial services firm Experian.

Experian counted 53 IT companies through the pearly gates last month, representing 0.05% of the British IT sector, and down 20.9% on September 2010.

Experian also identified an improving situation among larger companies. Just 11 companies employing 501 or more went to the wall last month, down 25% year-on-year.

Across the entire business population, however, the picture was grimmer, as economic concerns continued to weigh heavily on people's minds. The overall rate of insolvencies increased, with 0.09% of UK firms going under in September, up from 0.08% this time last year.

What Experian terms 'micro businesses' - those that employ just one or two people - experienced the biggest annual rise, up 25% to 258, representing 0.06% of the total UK business population.

MicroScope+

Content

Find more MicroScope+ content and other member only offers, here.

Read more on Finance and Credit

Start the conversation

Send me notifications when other members comment.

By submitting you agree to receive email from TechTarget and its partners. If you reside outside of the United States, you consent to having your personal data transferred to and processed in the United States. Privacy

Please create a username to comment.

-ADS BY GOOGLE

ComputerWeekly

SearchITChannel

Close