Signs British businesses have weathered the storm

Levels of businesses closing doors due to bankruptcy have reached their lowest since 2005, leaving us hopeful that at last an ugly corner may have been turned.

Just over 3,000 insolvencies were logged in the first quarter of this year, more than 1,000 fewer than during the same period of 2012.

Mike Jarvis, a partner at PricewaterhouseCooper, who produced the data, highlighted that the decrease in volume was an early sign of economic recovery.

History has shown the years after a recession can be an especially challenging time for SMEs, but Jarvis believes this won't be the case this time around, as "management teams are sophisticated, responsible, measured and have learned some hard lessons."

The news comes after another recent sign that there's a bright road ahead for small businesses, as entrepreneurs have confirmed they predict increasing levels of new orders reaching their businesses in the coming months.

Smarta couldn't welcome all this optimism enough; keep your success stories coming in and let us know if you're enjoying this sudden bout of economic confidence. It's a welcome change.

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