UK Business Insolvencies are down 13% in June.

This year on year decline is shown in the insolvency index published by Experian. In June 2009 some 2,044 surveyed firms failed compared to 1,771 in June 2010.

Interestingly firms in the North East of England had the highest rate of insolvency in both June 2009 and June 2010 although the rate had fallen over the year. Looking at the figures as a whole does show a North versus South divide with lower insolvency rates in the South.

As a sector the transport sector had improved the most. Insolvency rates were down  from 0.12% to 0.07%.

While these figures do not mean a lot in isolation it has to be good to see a drop in insolvency rates.

Certainly invoice factoring companies will welcome the news.