Click to read the article in full.
One of the wettest starts to the year has failed to dampen the enthusiasm of East Midlands entrepreneurs as 2,540 new businesses were set up in the region last month.
This is according to the Midlands branch of R3, the UK’s insolvency and restructuring trade body, who say that while the figure is a 7.13% decrease on the 2,735 recorded in February, it still indicates a sizeable appetite for new business in the region and opportunities for growth.
The R3 Midlands figures, which are based on an analysis of data from business intelligence provider Creditsafe, also indicate some improvement in the local economy as debts owed by East Midlands businesses in liquidation decreased by 17.73% last month.
In contrast, however, the number of local companies with late payments on their books has risen since the start of the year, reaching 23,610 last month compared to 23,194 in January.
R3 Midlands chair Stephen Rome, a partner at law firm Penningtons Manches Cooper in the region, said: “It’s good to see local entrepreneurs seizing opportunities to set up and trade, and the monthly fall in start-ups could indicate a sensible degree of necessary caution due to challenging and uncertain economic conditions.
“Business
link source - East Midlands Business Link General https://www.eastmidlandsbusinesslink.co.uk/mag/wp-content/uploads/2023/12/thumbnail_R3-Midlands-Chair-Stephen-Rome-2.jpg