STATISTICS released last week revealed the number of business failures in Scotland increased last year.

Insolvencies, liquidations, administrations all make for gloomy reading, but what you don’t see are statistics about the number of entrepreneurs who learn from those failures and start again.

Failure in business is painful and stressful but once the hurt has lessened and the dark clouds of disappointment have lifted, looking back on what went wrong can be the most important learning for entrepreneurs.

Mike Stevenson, pictured above, is founder and director of Thinktastic in Edinburgh. He had a successful marketing and design business but the 2008 crash put paid to many long-held contract arrangements. Despite fighting for the next two years to rebuild the business, he had to close it down.

“Life at its most elemental is about making mistakes, learning from them and emerging stronger. My bank account may have suffered immeasurable damage but I was emotionally stronger and wiser as a result,” said Stevenson.

“What I learned above all is that no business can survive without the constant injection of new ideas and fresh energy. In this rapidly-changing world businesses that rest on their laurels or spend too much time celebrating success risk failure.

Stevenson added: “Our difficulties came at the end of a year in which we recorded the highest turnover and profit. Did we take our eye off the ball? Perhaps. What it taught me was that success can be a threat if we fall for its seduction.

“Business is best served by a passionate purpose. Businesses might fail, but as entrepreneurs we should never lose sight of our purpose.”

Callum Murray lost his painting business after a large contractor stopped paying him midway through a contract while another builder dissolved. In total he was owed around £40k.

Murray learned that going to court and trying to use litigation to recover debts isn’t viable for a small business running out of cash and time. “We tried, it took longer, cost more and was more complex than expected. We didn’t get anything other than a piece of paper in the end.”

But it was that painful process of trying to recover debt that gave Murray the idea for his next business, Amiqus.

“I’d experienced court as a litigant and had ideas to help improve things. I retrained in mediation and surrounded myself with the right people to help get things moving.”

His advice to other entrepreneurs facing losing their business? Ask for help.

“Stop and acknowledge when you’ve made a series of mistakes or taken too many risks, there’s still time to fix things.”

If it’s too late, start again.

“Now you’ve been there and done the failing thing, you’re well-equipped to succeed,” said Murray. “You’ve learned a load of lessons and have a fresh start.

“Set your mind to working on something you enjoy or care about fixing. You’ll quickly find people who share your purpose and the making money part will come as a by-product.”

Michelle Rodger is a communications consultant