The Business Distress Index indicates that London has the highest number of businesses in financial distress, reflecting a volatile trading environment influenced by recent political changes.
Research indicates that 632,756 UK businesses faced significant financial distress in Q3 2024, marking a 5% quarter-on-quarter increase and a startling 32.3% rise compared to Q3 2023.
Chris Bristow emphasizes that the uncertain climate following Labour's election win has led to reduced consumer spending and investor appetite, exacerbated by rising costs and inflation.
In Q3 2024, London accounted for 185,494 businesses in distress, a 35% increase from the previous year, showcasing the growing financial challenges within key sectors.
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