The latest figures from the insolvency specialist found that there were just five insolvencies in the sector last month, compared with 12 insolvencies in July 2009.

This represented a failure of 0.17% of the UK's printing, packaging and paper business population, compared to 0.48% in the same month last year.

Max Firth, managing principal of pH, an Experian company, said: "July's data indicates that the SME population is faring much better in terms of insolvencies than it did this time last year.

"However, increasing failures at the top end of the market demonstrates clearly that there is a still a great deal of uncertainty."

He added that, following a 60% year-on-year increase in failures of large companies (those with more than 500 employees) in July, it was vital that organisations ensured they understood and proactively managed the risk that those they do business with exposes them to.

Overall, the research found that 1,542 UK businesses failed last month, 33% fewer than the 2,312 insolvencies in July 2009.

All regions saw year-on-year falls in insolvency rates, with Scotland overtaking the South East as the region with the lowest rate of insolvencies at 0.05%.

Improvements in the North East meant that it is no longer the worst performing region, although Yorkshire experienced the highest rate of insolvencies at 0.13%.