- According to new research by insolvency and restricting trade body R3, 79,000 UK businesses say that if interest rates increase by a small amount they will be unable to repay their debts.
- This is the first increase in worried businesses since 2014, and coincides with “a period of slower than expected growth and a small rise in corporate insolvency numbers” says Andrew Tate, spokesperson for R3.
- Despite this however, there has in fact been a fall in the number of UK businesses that are already showing signs of such serious financial distress.
- Andrew Tate again understands that “While it’s positive that signs of acute distress continue to fall, it’s no reason to be complacent… as other statistics in the research show, some firms are starting to find their room for manoeuvre increasingly limited”.
Alun is a commercial property partner who specialises in development and planning work. He is a forward thinking lawyer with an entrepreneurial skill which he utilises to his clients' advantage.