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Insolvency data April 2023

ended 16. May 2023

The Insolvency Service is publishing the latest company and individual insolvency data at 09:30 this morning. Are you seeing more signs of companies and/or consumers getting into financial difficulty? Do you expect things to get worse or better during the rest of 2023? How important is it that inflation comes down? What are the main financial challenges being faced by companies and/or consumers at present? Any other thoughts or insights, send them across.

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Ian Hepworth
Director at Funding Solutions UK Limited
Businesses are caught in a perfect storm. Rising input costs, supply chain disruption, increased wage demands, labour shortages, rising interest rates, tightening supplier credit and the withdrawal of government funding. The government may well claim that the Recovery Loan Scheme 3 is in place but this is little more than lip service to struggling businesses.

However, many businesses are continuing to not only survive but thrive. Of course, some businesses won't survive these conditions. Some business owners are just weary of the journey and are throwing in the towel.