Insolvency-related activity is on the rise in Hampshire again.
In Hampshire and the wider South East, insolvency-related activities increased by 10 per cent in September, according to new figures from R3, the UK’s restructuring, turnaround and insolvency trade body.
The rise brings the total to 187 cases for the month, up from 170 in August.
Neil Stewart, chairman of R3’s Southern and Thames Valley region, said: "While a 10% increase appears significant, it follows an 8.1% decline in August, so it is difficult to draw any firm conclusions.
"I suspect that many business leaders will not be making any major decisions before the autumn budget on November 26.
"There is a hope that the Chancellor will introduce measures that encourage investment, recruitment and expansion rather than make changes to business taxation which could dampen confidence.
"Ongoing challenges such as higher energy and materials costs, cautious consumer demand and creditor pressure have combined with slower than anticipated reductions in the cost of borrowing to leave some businesses having to fight hard to stay afloat."
The September total is also 8.1 per cent higher than the same period last year.
The South East recorded the sixth-highest level of insolvency-related activity in the UK, behind Greater London, the North West, East Anglia, the West Midlands and Yorkshire and Humberside.
In contrast to much of the UK, where eight regions saw a decline, increases were also recorded in Wales, Northern Ireland and Scotland.
Mr Stewart, a regional associate director at Manolete Partners Plc, urged business owners to remain alert.
He said: "Our message to businesses remains the same: seek advice from a regulated professional at the first signs of financial distress.
"Taking action early gives you more options and more time to make a considered decision about the best way forward.
"Most R3 members offer an initial consultation free of charge, giving business owners a chance to understand their options before matters become critical."
R3’s Southern and Thames Valley region covers Hampshire, the Isle of Wight, Kent, Surrey, Sussex, Buckinghamshire, Oxfordshire, Dorset, Wiltshire and Berkshire.
