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News & Views Business failures start to fall


Leading business information spe- cialist, Equifax, has released figures covering the first two months of 2011 which suggest an encouraging fall in the number of companies going out of business. The 7.9 per cent reduction in failures compared with the same months of 2010 is good news for busi- ness, and for the government.


The latest figures from Equifax follow positive data from the Office of National Statistics which indicated a rise of over 4 per cent in industrial production


year-on-year in January while manu- facturing output jumped by almost 7 per cent in this same period.


However there are regional and sec- toral variations, with the Hotel and Catering sector for example show- ing a 14.6% year-on-year increase in businesses going under. Wales also saw a significant increase in business failures in the early part of this year. Yorkshire and Humberside had the best figures, while the construction sector recorded a 20 per cent drop in


Curry night funds church roof


A charity curry night in Eastwood, Nottinghamshire, raised £530 for the town’s church roof fund. Bombay Spice donated all of its takings on January 17 to the St Mary’s Church roof fund, as


part of local efforts to meet a £36,000 bill.


The church was re-built last year, but the vicar, Rev David Stevenson, is still


McDonald’s plans expansion in India


fundraising to pay the costs. Water had got in to the steelwork and rusted the concrete causing the roof to leak.


business failures.


Equifax says it hopes these figures will encourage banks and other financial institutions to lend more to business. According to Neil Monroe, external affairs director, ”These figures should give lenders confidence that busi- nesses are taking all the right mea- sures to protect their financial stability and therefore encourage new lend- ing to support cash flow as well as growth.”


McDonald’s Indian franchisee plans to set up 30 new restaurants in the southern and western parts of the country this year, as part of the res- taurant chain’s expansion plans in the country Furthermore Hardcastle Restaurants aims to have a total of around 250 McDonald’s restau- rants in three to four years in the two regions, up from 106 now.


McDonald’s sold its 50 percent stake in the


Hardcastle joint venture to its local partner last year.


Spice Business Magazine 13 March 2011


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