Insolvencies in Wales dip slightly, construction still hit hardest

Construction still records the most insolvencies of any sector, though numbers are no longer rising year on year. Wholesale, retail and hospitality show a clearer annual decline. Businesses broadly face higher energy, wage, property and purchasing costs, inflation and weaker consumer demand, which is especially risky for firms with tight margins.

Policy measures such as lower business rates for pubs, clubs and music venues offer some relief, but questions about the wider tax structure remain. All eyes are now on the autumn budget for greater economic certainty.