Tides turning in the Swedish business scene as bankruptcies rose in May


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Tuesday, 07 June 2011
The number of corporate bankruptcies rose by 4 percent in May, according to statistics from credit agency UC which keeps the data.

This come after a period of low business failures as it was thought that the Swedish economic miracle could absorb the growing interests shown by emerging entrepreneurs. However analysts had pointed that the stable business climate in Sweden then was just a temporal issues
According to UC, the most probable reason for the growth in business failures is that the growing new businesses are finding it hard to establish themselves in the market.

A total of 626 companies went bankrupt in May, a high figure compared with previous year’s May month, according to UC. The construction industry is the most affected industry.
By Team

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