Nearly 1,400 businesses were started in the North East during January - the highest number in six months.
Data from Creditsafe analysed by insolvency and restructuring trade body R3 shows 1,396 companies were started last month, which is 15% up on the same period in 2022. And the number of insolvency related activities during the month - including liquidator and administrator appointments and creditors' meetings - were 16% higher year-on-year at 59.
Not included in that data are the two high profile administrations of construction contractors Tolent and Metnor, both of which occurred this month. Meanwhile R3's findings also show North East businesses had more than 157,875 invoices on their books without money received during January. Almost 12,300 regional firms had outstanding invoices beyond their payment deadlines that should have been settled.
