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LATEST NEWS & EVENTS Insolvency body warns of greater SME distress  Small and medium-sized enterprises (SMEs) are faring worse than large firms and could be more likely to turn to an insolvency lawyer, a new survey of UK firms shows. Just under a third (29 per cent) of SMEs have seen a reduction in sales volumes, compared to six per cent of big businesses, according to R3, the insolvency trade body. The research also found that over one third (34 per cent) of SMEs are experiencing decreased profits compared to 19 per cent of big businesses. R3 president Frances Coulson says smaller companies need more support as the economy slips back towards negative territory. "It is clear that many SMEs are not financially robust enough to withstand the economic pressure," she adds. "Either more support is needed in 2012 to enable a real recovery, or some businesses will inevitably fail rather than continue to limp along, damaging competition." Overall, there was better news for the business sector, with 58 per cent of firms feeling signs of distress. This is down by ten percentage points on last quarter and is well below the level seen in December 2010, when over three-quarters (77 per cent) of businesses reported feeling signs of distress. Posted by Alex McLean 
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