Ups

Data from Creditsafe analysed by insolvency and restructuring trade body R3 shows 1,396 companies were started last month, which is 15% up on the same period in ...

"Being unable to pay your bills on time is one of the key indicators of business distress, while struggling to get monies owed from customers is often a major contributory factor to the failure of many otherwise-viable businesses. Data from Creditsafe analysed by insolvency and restructuring trade body R3 shows 1,396 companies were started last month, which is 15% up on the same period in 2022. [Merger of North P&I and Standard Club creates global opportunities, says Newcastle-based boss](https://www.business-live.co.uk/professional-services/banking-finance/merger-north-pi-standard-club-26301696) [Newcastle 'riding a wave' of investment enquiries amid latest jobs joy](https://www.business-live.co.uk/economic-development/newcastle-riding-wave-investment-enquiries-26267383) [North East's top businesses to be recognised at new-look awards night](https://www.business-live.co.uk/enterprise/north-easts-top-businesses-recognised-26295252) [£36m investment into green hydrogen pioneer GeoPura paves way for growth](https://www.business-live.co.uk/enterprise/36m-investment-green-hydrogen-pioneer-26284420) [Read more North East business news here](https://www.business-live.co.uk/all-about/north-east) Meanwhile R3's findings also show North East businesses had more than 157,875 invoices on their books without money received during January. Almost 12,300 regional firms had outstanding invoices beyond their payment deadlines that should have been settled. North East chair of R3 Chris Ferguson, who is head of recovery and insolvency at Gosforth-based RMT Accountants & Business Advisors, said: "The start of a new year can often be a catalyst for people to draw a line under the past and start a new business, whether they’re a first-time founder or an experienced entrepreneur.