The South East’s tourism operators have seen an increase in health over the summer months, according to local insolvency experts.
The proportion of tourism operators at risk of insolvency has decreased for two consecutive months, with seven per cent fewer businesses at heightened risk than in July.
The research, compiled by insolvency trade body R3 using Bureau van Dijk’s ‘Fame’ database of company information, tracks the proportion of businesses across key sectors that have a heightened risk of entering insolvency in the next year.
Andrew Watling, chairman of the Southern Committee of R3 and partner at Quantuma, said: “The summer months are vital for the South East’s tourism operators. Due to the nature of UK weather they need to make the majority of their income while the sun shines in order to see them through the quieter winter.
“It’s encouraging to see tourism operators are in good health at this important time, with less at risk of insolvency than in previous months. A focus on innovation and introducing new revenue streams to see them through the winter will be key going forward."
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