Business Failure Indicator

Tender description

BEIS's aim is to ensure that the economy grows strongly in all parts of the country, based on a robust industrial strategy and that the UK has secure energy supplies that are reliable, affordable and clean. It will encourage investment and innovation that fully utilises the UK science base, and enable a whole economy approach to deliver our climate change ambitions. The Disruptive Businesses Directorate covers a number of policy areas, one of which is focussed on promoting a consistent approach to handling economic shocks and opportunities including responsibility for government's principles of intervention. The Disruptive Businesses Analysis team require a robust measure of individual businesses' likelihood of failure and the likelihood of defaulting on paying creditors. This will be used to prioritise Government engagement with businesses, and to proactively assess the local impact of individual business becoming insolvent. The aim of the exercise is to provide analysts with a regular product which would highlight businesses at risk of insolvency, and information on the accuracy and reliability of the products. Any advanced notice of an upcoming economic shock is vital so a product should either give real time notifications or be produced at a sufficiently high frequency for the information to give advanced warning. The objectives of this tender exercise are to: • To enable Disruptive Businesses Directorate to identify businesses which have a high risk of failure or which have a significant increase in risk of failure. • To identify these businesses at an earlier stage than is possible through media monitoring, and to a high degree of accuracy. • Where possible identify the site of named business, rather than the location of the Headquarters. • To enable Disruptive Businesses Directorate to match data on at-risk businesses with sector and place indicators