Newspaper article The Journal (Newcastle, England)

Survival Rates Put North Top of the League; in Association with RBS

Newspaper article The Journal (Newcastle, England)

Survival Rates Put North Top of the League; in Association with RBS

Article excerpt

BUSINESSES in the North-East currently have the highest survival rates in the country, according to a new report.

The number of businesses forced to close down in the region during the third quarter of 2007 decreased by 11.7% compared to the same period last year, putting it top of a national table.

The North-East also came second over the last eight months, with business failure rates dropping by 1.3% during the period. The figures, contained in a report by data analysts Equifax, show that businesses in the West Midlands weren't so fortunate during the last three months, with the failure rate in the area rising by 15.4% compared to the same period last year. Businesses in London also took a downturn, with the capital's failure rate increasing by 6.6% in the same comparative period.

Paul McEldon, chief executive at support network North-East Business and Innovation Centre (BIC), said: "The regeneration of the region is reflected in these figures, which show a dramatic positive improvement over a relatively short period of time. …

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