Business-related bankruptcy in Scotland
A scoping study of the extent, and impact, of business-related bankruptcy in Scotland. The project was undertaken for the Scottish Executive, to prepare the way for a larger study of the impact of business-related bankruptcy in entrepreneurial activity in Scotland. Based on the premise that the possibility of personal bankruptcy, and the consequences which flow from it, might be acting as a barrier to business start-up in Scotland, the research focused on why business-related bankruptcy occurs, the impact it has on businesses and individuals, and examined the options for change in the future.
The research revealed that few of the business support agencies in Scotland provide support for businesses in difficulty, and that those which might wish to offer
support are deterred because of the complexity of bankruptcy law and practice. In practice, very few of the recognised professional advisers to businesses - accountants and solicitors - have adequate knowledge of bankruptcy. Many of the
business related bankruptcies could be avoided if adequate advice and support could be offered at an early stage. The reserarch recommended the creation of adequate statistical monitoring of business related bankruptcies in Scotland
(current statistics do not distinguish business bankruptcy from consumer bankruptcy) and the provision of support mechanisms for businesses to help prevent bankruptcies occurring.
Contract value: £25,000 - £50,000 Completed: 2001 Publication: Report published by Scottish Executive, October 2002 Other projects for the same client:
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