Six more firms became insolvent each day in the latest quarter compared to the same period in 2010, with failure rates among the highest for hospitality and tourism businesses. That’s according to RSM Tenon, the insolvency specialist, which predicts an 11% rise in business insolvencies in Q3 when official figures from the Insolvency Service are released on Friday. It represents the first increase in insolvencies for three quarters. A 14% uplift in insolvencies is predicted for hospitality and tourism firms (to 428 companies), with the retail sector (up 19% to 345) and business services (up 20% to 1,435) also seeing steep increases. In contrast, insolvencies in the communications sector are predicted to fall 18% to 63. Overall, RSM Tenon says 465 more businesses became insolvent in July, August and September of this year than the same period last year, taking the total for the quarter to around 5,500. Regionally, businesses in Wales and East Anglia fared the worst in Q3, seeing increases in insolvencies of 40% and 34% respectively. Carl Jackson, head of corporate insolvency at RSM Tenon, said: “After seeing year on year falls in corporate insolvencies in the last two quarters, the rise this quarter, against Q2 2011 as well as Q3 2010, clearly illustrates the difficulties businesses are facing from continued global economic turmoil. More than 17,500 businesses have failed to date in 2011, which is already around 25% more than in the whole of the pre-credit crunch levels in 2007. “Government actions are clearly failing to stimulate the UK economy and with fears of a second credit crunch looming as businesses struggle to obtain funding, it seems more needs to be done to support British enterprises.”