Insolvencies in the property sector rose by a modest 3.6% during 2023 despite the difficult economic climate.
Meanwhile they only rose by 0.5% in finance and insurance.
Comparatively accommodation and food services saw a staggering 37.8% increase in insolvencies over the same period.
Kyle Eaton, money.co.uk business loans expert, said: “Selecting the right industry and researching thoroughly before setting up your business can set the foundation for a successful venture.
“Remember, success doesn’t happen overnight, and perseverance, adaptability, and continuous learning are key.”
Property management, development, and related services have continued to benefit from high demand, despite fluctuating house prices.
