Small Businesses: Enfield
Question
Feryal Clark
To ask the Secretary of State for Business and Trade, how many small businesses went bankrupt in (a) Enfield North constituency and (b) the London Borough of Enfield in the last (i) three, (ii) six, (iii) 12 and (iv) 24 months.
Answer
Kevin HollinrakeInformation on company insolvencies is sourced from Companies House, which does not hold information on the size of companies or all types of businesses. Therefore, we cannot provide specific numbers of small business failures. Furthermore, the registered office address for a company may not be its trading location, and is often the address of the appointed Insolvency Practitioner handling the case. Subject to these caveats, estimated company insolvencies in Enfield North and Enfield in the periods up to 31 May 2023 were:
Period | Enfield North Constituency | Enfield Borough [1] |
3 Months | 7 | 106 |
6 Months | 16 | 191 |
12 Months | 36 | 402 |
24 Months | 59 | 756 |
[1] 685 of the 756 company insolvencies registered in Enfield Borough have the same postcode, which is the location of an insolvency practitioner firm. Many of these companies may not have traded in Enfield Borough prior to insolvency.
Numbers of trader (self-employed) bankruptcies to 31 March 2023 (the latest date for which data is held) were:
Period | Enfield North Constituency | Enfield Borough |
3 Months | 0 | 3 |
6 Months | 1 | 5 |
12 Months | 1 | 8 |
24 Months | 7 | 18 |