From Accountancy Today:
One in five UK businesses are "financially stressed", according to new research from KPMG's restructuring practice.
The practice analysed the filings of all UK businesses with revenues over £10m in the five year period to the end of 2018. Trading performance, profitability, cashflow, liquidity and debt leverage were all analysed to produce a score to identify financial stress and distress among these businesses.
What KPMG fail to mention is that their rapacious audit fees (monopoly rent) are a major contributor towards their clients' financial stress, taking one or two per cent of turnover on average.
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