Ireland has had the biggest percentage drop in business failures in Europe over a two-year period, according to a survey by the business information company, Dun & Bradstreet. The survey shows that 281 companies failed in the first half of 1997, a 16.7 per cent drop on the 335 which failed in the same period of 1996. "Companies in Ireland maintained their positive payment record," Dun & Bradstreet said.

Portugal had the biggest increase of business failures, at 17.8 per cent when 364 companies failed in 1997, compared to 309 in 1996. Belgium ranked second and Holland third.