Analysing the data - business failures

In the first of a regular series of business data resources, here is some information about the rate of business failures in the UK which will provide A2 students with practice at analysing and intepreting data.

The data below is taken from the press release of Equifax who make available details of their survey of business failures each quarter.

Some suggested stimulus question at shown below the data.

(1) Overall there were 35% more business failures between Jan-Mar 2009 compared with the same period in 2008. Why?

(2) Outline three reasons why there are distinctive differences in the failure rates of different regions of the UK

(3) In which sectors did the number of business failures in Q1 2009 actually fall compared with the last quarter (Q4) of 2008?

(4) Describe two external economic factors that significantly influence the rate of business failure in the UK