First Time Administrations October 2024

Looking at October FY25 insolvencies, we’re seeing another big jump in businesses entering into administration for the first time. 1,361 insolvencies in total, which is up from 1,227 last month in Sept and 907 for the same month in FY24—that’s a 50% increase.

When you compare it to the average of 566.5 over the last several years, that’s more than double the usual number of businesses becoming insolvent in October.

This trend highlights the ongoing challenges businesses face, and underscores the importance of trade credit insurance. Trade credit insurance can provide crucial support, helping businesses manage risk and maintain stability in these uncertain times.

For more information, reach out to Capital Trade Credit Solutions today!