Fewer Yorkshire and Humber businesses experienced significant or early-stage distress in the second quarter of this year, prompting cautious optimism about resilience across the regions.
New research from business recovery group Begbies Traynor shows the number of businesses in Yorkshire experiencing significant distress - defined as having county court judgements (CCJs) of less than £5,000 filed against them - fell by 14% compared to the same period last year. In Humber, significant distress fell by 12% year-on-year. However, firms experiencing critical distress - defined as those facing financial problems such as CCJs of more than £5,000 - rose by 15% in Yorkshire, compared to the second quarter of 2021.
In the three months from April to June more than 33,300 Yorkshire businesses experienced instances of early stage distress, while across Humber, 1,524 businesses fell into that category in the same period. Nationally, the number of businesses facing early stage distress averaged a decrease of 11% compared to last year, with no change in distress levels since the first quarter of the year.
