Based on predictions made by BDO Stoy Hayward for 2006, small media firms are going to withstand a peak year for UK business failures.
Even though business failures have already climbed up 10 per cent in 2004, analysts expect company closures to lessen to around 17000 by the year 2007 – this is one of the lowest failure rates in over a decade.
But even before the good times kick in, manufacturing, construction and services entrepreneurs will have to fight to survive as directors of the companies most prone to fold and at the highest rate.
Company formation and business solutions experts hope that the resiliency of companies will allow them to weather these storms and escape unscathed and intact.