Judging from the latest figures for business failures, the economy is having a hard time picking up speed in the region. According to Equifax, the failure rate of businesses in the North West increased by 9.1% in the third quarter compared with the same period of 2010. In fact, that is half the national rate.
To some extent the figures should not surprise since retailing has had a bad period with a 41.8% rise in failures. Mark Nuttall of Equifax commented: “The North West has seen failures creep up by 10%, which highlights the overall UK picture and suggests that businesses everywhere need to remain cautious. The reality is that businesses are continuing to find it much harder to keep their heads above water as the economy fails to pick up.”
To some extent the figures should not surprise since retailing has had a bad period with a 41.8% rise in failures. Mark Nuttall of Equifax commented: “The North West has seen failures creep up by 10%, which highlights the overall UK picture and suggests that businesses everywhere need to remain cautious. The reality is that businesses are continuing to find it much harder to keep their heads above water as the economy fails to pick up.”
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