Equifax has released its latest Business Failures Report, which sees an increase in the number of businesses going bankrupt in some industry sectors in the UK. Despite this, however, the overall picture for the year to date suggests that other sectors are faring better. The worst hit was the manufacturing sector, which saw a 13.8% increase in the number of businesses failing in Q3, compared to Q1. However, the services and wholesale sectors both saw failures drop by 4.2% and 2.6% respectively in Q3, compared to the beginning of the year. The construction and transport/communications industries continued to struggle in the difficult financial climate with failures up 11.7% and 11.9% in Q3. “Although there are increases in these sectors, the trend through this year is pretty steady,” said Neil Munroe, external affairs director at Equifax. “And significantly, failures in the retail sector only increased by 2.8% in Q3 compared to Q1.”
UK firms investment in training and development will increase, on average, by a fifth in the next year, claims Robert Half recruitment after interviewing 100 financial services (FS) executives.
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
Global research by C2FO suggests that smaller businesses are less concerned with the repercussions of Brexit and the upcoming US presidential election.
A squeeze on skilled talent means it now takes an average of seven weeks to fill open permanent roles in finance in the UK according to new research from financial services recruitment firm Robert Half.