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Insolvencies remain stable despite challenging economy

Simon Quicke

The IT population remained fairly intact during the tough times of last year with the number of insolvencies holding firm compared to the levels of 2010.

The final numbers of insolvencies collected by Experian indicate that 688 IT firms fell into insolvency last year, a 2.8% drop on the number in the previous 12 months.

But the level of the IT business population falling remained the same at 0.65% year-on-year indicating the sector has not particularly improved over the last year.

The performance of the IT sector was much better than other areas including property, utility and oil and overall across the UK economy there was just a 1.1% increase in the number of business failures.

"Given the challenging economic climate in 2011, businesses in the UK were pretty resilient and this was reflected by the stable insolvency rate during the year," said Max Firth UK managing director for Experian's business information services division.



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