First Time Administrations December 2024

In December FY25, the trend of increasing insolvencies shows a slight reprieve, with 1,050 businesses entering administration for the first time. This follows a similar downward trend seen in previous years, where November figures typically decrease in December (e.g. 2024 saw a drop from 891 in November to 795 in December, and 2023 saw a decrease from 655 in November to 625 in December).

Despite this seasonal decline, the current numbers are still significantly higher than the average of 574.5 over the last several years, indicating that businesses continue to face substantial challenges in the current economic climate.

As we anticipate January to continue this downward trend before a likely spike in February, it’s crucial for businesses to remain vigilant. Trade credit insurance remains an essential tool for managing risk and maintaining stability during these uncertain times. It provides vital support, helping businesses navigate financial difficulties and continue operations.

For more information, reach out to us today!