SW business failures down

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Business failures in the south west are down according to the Q3 Equifax Business Failures Report, but not to the same degree as the rest of the country.

South west insolvencies dropped 3% in Q3 compared to the same period 12 months ago, while the national figure saw a 13.4% decline. The best performing region was Scotland, which witnessed a 33.1% year-on-year drop.

Quarter-on-quarter, the best performing region was the West Midlands, down 15.7%, while businesses going bust in the south west in Q3 declined 4.2% compared to Q2.

Wholesale was the best performing sector in Q3, with a 19.4% decline in failures, while the manufacturing and services sectors also appear to have managed sales, debts and cash flow well in Q3 with 12.5% and 11.9% declines in failures respectively.

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