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Insolvency Statistics 2014: Less insolvencies, but no reason to celebrate

 

The Credit Protection Association KSV1870 reported an decrease of 0.7 percent in corporate insolvencies in Austria in 2014 compared to the previous year.
There are no year totals for 2014 for Germany available yet, but the German Federal Statistical Office has reported 8.7 percent less business insolvencies in the first three quarters of 2014 compared to 2013.
UK reports also describe a positive trend. According to the Insolvency Service UK, the number of liquidations in England and Wales has decreased by 6.3 percent in 2014.

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These figures are good news. However, it is not yet time to celebrate in the view of the following facts:

1. Growth forecasts are currently far from rosy and even another recession can not be ruled out.
2. Private consumption is dampened by the gloomy economic status which aggravates this situation.
3. Overall economic stagnation is especially affecting small and medium-sized enterprises (SMEs).

We see no reason for alarm. We recommend that you make informed decisions and to minimize the risk of failure.

 

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