The number of business insolvencies fell in July, according to the latest insolvency index from information services firm Experian.

The data shows that 1,542 UK businesses failed last month, down 33% on the 2,312 insolvencies recorded in July last year.

All business segments aside from the very largest companies (501+ employees) saw insolvency rates fall year-on-year, with the biggest improvements recorded among companies with 101 – 500 employees. This group witnessed 30 insolvencies in July, 56% fewer than in July 2009.

Max Firth, managing principal of Experian company, pH, says: “July’s data indicates that the SME population is faring much better in terms of insolvencies than it did this time last year, however, increasing failures at the top end of the market demonstrates clearly that there is a still a great deal of uncertainty. Given this ever changing picture, it is vital that organisations ensure they understand and proactively manage the risk that those they do business with exposes them to.”