The latest Insolvency Index from Experian, the global information services company, found there was a marginal increase when compared to the rate in August 2010 when 0.07% of the business population became insolvent.
It was also the largest companies that saw insolvencies drop year on year with the rate dropping from 0.14% to 0.09% this year. Businesses employing 11-50 employees performed the worst in August with the highest rate and 0.21% of the business population failing.
In terms of regions, the North East and West Midlands had the highest rate of insolvency in August at 0.11%. Yorkshire and the East Midlands were the most improved going from 0.13% to 0.10 per cent and 0.09 per cent to 0.07% respectively. The South West was the best performing region with the lowest insolvency rate with 0.06%.
Max Firth, MD of Experian Business Information Services, said: "While insolvency rates in August were the lowest since February 2011, our analysis shows that regional variances continue to underline the importance of closely monitoring the financial health of the suppliers and customers that companies do business with."
