Research published by Experian has shown that insolvency rates in the UK fell by 9.5% last month, despite the tough economic conditions the country continues to face.
1,776 businesses went bust in July, compared to 1,962 firms in the same month last year. The rate has remained stable for a considerable time and experts are hopeful that the future is looking more positive.
Insolvency rates in Scotland are their lowest for two years.