KPMG has revealed that there has been a marked fall in the number of Scottish business failures this year, with 230 insolvencies recorded for quarter three, a 27 per cent fall on the 316 recorded for the same period last year.
Company failures for the year to 30 September 2013 numbered 837, showing a 33 per cent drop from the 1,262 total in 2012. This is the first time a yearly decrease has been recorded since 2008, the accountancy firm said.
Administrations and receiverships remained at 30 for the quarter - the same figure for two years running now. Liquidations, a process usually applied to smaller enterprises, decreased by 30 per cent in the same quarter – from 285 in 2012 to 200 this year.
The figures are positive news for the Scottish economy, indicating the willingness of creditors, banks and HMRC to use alternatives to insolvency action.
Blair Nimmo, head of restructuring at KPMG in Scotland, noted: “Recovery will be a slow process but our experience tells us those businesses which survived the worst of the economic downturn, by restructuring to focus on preserving cash and reducing costs, should now be well placed to take advantage of the gradual return to growth.”
If this news can be mirrored by improving figures for England and Wales, we may be likely to see a return to greater numbers of solvent businesses seeking sale for investment or retirement across the country as owners look to progress. 
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