Umunna: Business failure stats worrying across UK regions

Equifax has published statistics for Q2 2011 on the number of business failures across the UK regions.

Commenting, Shadow Minister for Small Business and Enterprise Chuka Umunna MP said:

“Nationally, in the second quarter of 2011 business failures have increased by more than 3 per cent compared with a year ago and are also up on the previous quarter. However, it is particularly worrying that in some regions, the rate of business failures has increased even more steeply, rising significantly higher than the national average.

“We are looking to businesses to power the recovery, providing the growth and jobs we need in all parts of the UK. The government is standing by while many businesses struggle and by cutting too far and too fast, is choking off economic growth and putting businesses’ livelihoods at risk.”