UK businesses face higher insolvency risk due to rising wage costs and potential interest rate hikes.

UK businesses may face higher insolvency rates due to increased wage costs and potential higher interest rates, warns Begbies Traynor, a UK insolvency firm. The firm expects a £1.25m annual increase in costs starting next April due to higher national insurance contributions. Despite this, Begbies Traynor reported a 16% rise in pre-tax profits for the half-year ending October, maintaining optimism about meeting full-year targets.

November 18, 2024
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