Accountancy graduates seeking employment may be interested to know that the Confederation of British Industry (CBI) expects business insolvencies to continue during 2010.
More than 140,000 firms had serious financial difficulties towards the end of last year, a study by Begbies Traynor found.
According to the research, the number of companies experiencing problems in the last quarter of 2009 rose by six per cent compared to the previous three months.
The firm predicted that the worst is still not over, with the government set to withdraw support mechanisms during 2010.
CBI director of corporate affairs Matthew Fell said that even though there have been signs of recovery, it is unsurprising that a number of businesses are continuing to fall by the wayside.
"We also know that we have got the twin threat to come of higher taxes both for firms and individuals - those are inevitable to restore the public finances," he said.
Mr Fell added that he agreed with Begbies Traynor's opinion that unemployment and business failure lag between one and two years behind economic recovery.
