City fairs better than the rest

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THE latest Begbies Traynor Red Flag Alert research has found Portsmouth businesses have experienced a 25 per cent year-on-year decline in critical financial distress levels during the first three months of 2014.

Across the UK, levels of critical financial distress among UK businesses have also fallen by seven per cent year-on-year.

Julie Palmer, regional managing partner at Begbies Traynor in the south west, said: ‘Considering that the south coast of England bore the brunt of unprecedented severe weather this winter, Portsmouth has fared incredibly well.

‘It is clearly sharing in the positive economic trend being enjoyed by the country at large.

‘However there is a caveat in that companies need to remain vigilant to the danger of overtrading and keep a close eye on cash flow and finance if they are to prosper over the coming months and years.’