IT firms see fewer failures in September, says Experian

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IT firms see fewer failures in September, says Experian

Alex Scroxton
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.

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