"Additional headwinds for UK business from increased employment costs and the prospect of higher for longer interest rates are likely to extend the period of elevated insolvency levels, increasing the need for advice and support from our insolvency and business recovery professionals."
"The increased National Insurance will cost Begbies Traynor approximately £1.25 million annually, but it may ultimately benefit from the heightened demand for its insolvency and restructuring services."
"During the pandemic, government support schemes kept many struggling businesses afloat, resulting in a slower period for insolvency and administration cases, but the past 18 months have seen a surge in workload due to rising interest rates and a cooling global economy."
"Employing around 1,000 staff across the UK, Begbies Traynor is best known for its insolvency expertise but also offers a range of professional services including accounting, chartered surveying, banking, and legal advice."
#corporate-restructuring #financial-distress #insolvency-services #uk-business-economy #budget-changes
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