Scottish business debt falls by 35%

The number of decrees against Scottish businesses fell, by 35 percent, from 805 to 525 in Q3 2020 according to Registry Trust’s latest figures.

The total value fell by 43 percent from over £3.6 million to just over £2 million. Both the average and median values dropped by 13 percent. The average value fell from £4,435 to £3,863, the median from £1,388 to £1,203.

The number of decrees against incorporated businesses fell by 35 percent, from 670 to 437. The total value fell by 42 percent, from over £2.9 million to just £1.7 million. The average value declined by just over 11 percent from £4,350 to £3,858.

Decrees against smaller businesses also declined, from 135 to 88, a fall of 35 percent. The total value of decrees fell by 48 percent from £655,220 to £342,036. The average value fell by just under 20 percent, from £4,853 to £3,887.

Trust chairman Mick McAteer said “Covid19 interventions by government and regulators, and forbearance by creditors, have helped Scottish consumers and businesses. But, once these measures are wound down, the damage to household and business finances could start to show up.”

Decrees against all businesses	Half Year 2019	Half Year 2020	Change (compared with 2019)
volume	805	525	-34.78%
total value	£3,569,966	£2,028,086	-43.19%
average* value	£4,435	£3,863	-12.89%
median value	£1,388	£1,203	-13.33%
Decrees against incorporated businesses
volume	670	437	-34.78%
total value	£2,914,746	£1,686,050	-42.15%
average* value	£4,350	£3,858	-11.31%
median value	£1,271	£1,050	-17.36%
Decrees against unincorporated businesses
volume	135	88	-34.81%
total value	£655,220	£342,036	-47.80%
average* value	£4,853	£3,887	-19.92%
median value	£2,100	£1,424	-32.21%
Satisfactions
volume	266	353	32.71%
total value	£765,548	£1,012,803	32.30%
average* value	£2,878	£2,869	-0.31%
median value	£1,348	£1,355	0.52%