Allianz Trade’s latest Risk Barometer forecasts 2024 GDP growth of +0.6% in the UK (compared with +1.4% in the US and +0.8% in the Eurozone) and predicts that UK business insolvencies will grow +5% in 2024 and will be 35% higher this year than in 2019. Although compared with pre-pandemic times, Allianz Trade feels that many companies are now much better prepared for business interruption or supply chain events, it warns that smaller companies and those in specialist and high-value industries are more limited in what they can do to diversify their supply chains. The Barometer notes that the vast majority (98%) of insolvencies in Q3 2023 affected businesses with revenue under £1 million. To read Allianz Trade’s news release, go to https://www.allianz-trade.com/en_GB/insights/economic-research/uk-businesses-face-ongoing-economic-pressure-allianz-risk-barometer.html.