Industry Insolvencies: A Review of 2024’s First Financial Quarter

Throughout the first financial quarter of 2024, Insight Data can reveal a concerning rise in insolvency rates. Our data highlights 900 businesses across various sectors within the fenestration and construction industry were registered as insolvent.

In January, 302 companies succumbed to insolvency pressures. February witnessed a slight decrease, with a total of 255, but the end of Q1 concluded with a stark increase of 382 insolvency cases in March.

What does this mean for the industry? In short, the industry is gripped by volatility. Factors such as economic uncertainties, supply chain disruptions, and regulatory changes likely contribute to the observed patterns, and all beg the question: how can businesses avoid participating in such a growing trend?

At Insight Data, our core belief that ‘business is better with insight’ has remained true from the very beginning. There is no better time than now to ensure that your business strategy is poised and strengthened with insights that allow for financial planning, supplier evaluation, and means of diversification.

That said, it’s essential that a well-considered plan is met with well-considered execution. To help support the industry as best as we can, Insight Data’s in-house marketing and lead generation specialists guarantee businesses reach their target audience in a personalised and impactful way. Through utilising appropriate prospect data, adhering to GDPR regulations, and optimising direct mail, email marketing, and telesales strategies, we help create a path that opens up the potential for substantial business growth.

For further analysis and tailored insights into navigating the complexities of the industry, stay tuned for upcoming editions of Insight Data’s newsletter and insolvency reports.

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