Many small business leaders entered 2024 with some trepidation.
Despite the customary air of hope that typically accompanies the start of a new year, the UK Insolvency Service reported a 30-year high in the number of business insolvencies from the previous year. Elsewhere, industry reports1 highlighted a business environment of UK firms facing significant ‘financial distress’ - with those in London the most impacted by high interest rates, inflation, skills shortages and escalating material costs.
