More older companies are applying for insolvency than start-ups.
That's one of the findings by Deloitte, which says the number of companies filing for insolvency decreased by 18 per cent in the first three months of 2020, compared with the same period in 2019.
The group says it is too early to say whether COVID-19 has had an effect on the figures, but do expect over the next three months for more companies to have money woes.
David Van Dessel, from Deloitte, explains why older businesses may be applying for insolvency.
"The number of companies that reach that age bracket, and perhaps it's that point in time where a company moves from being small, to medium, which requires increased working capital, which includes precious resources to expand a business, which creates risk, and they could falling at that risk point, when they go from small to medium."
