Friday, March 05, 2010

Business failures slowing

The rate of business insolvencies for the automotive industry in January 2010 was 44.15 per cent lower than January 2009, and also half (48 per cent) the rate experienced in December 2009, according to the latest Insolvency & Late Payment indices from Experian, the global information services company.
 Only 0.08 per cent of automotive businesses became insolvent in January 2010, compared to 0.14 per cent in January 2009 and 0.15 per cent in December 2009. Not since December 2008 has the rate been this low.
Payment performance amongst automotive businesses, itself an indicator of business confidence, also improved throughout January. Automotive businesses have managed to shave a day off the time it takes to settle bills, down to 15.36 days beyond agreed terms from 16.72 in January2009.