The number of failing businesses in Scotland rose by 10% in the first three months of the year, insolvency figures show.
KPMG said there were 206 insolvency appointments between January and March compared to 188 in the same period last year.
Administrations, which typically affect larger organisations, were up 10% from 20 to 22 while l iquidations, which tend to hit smaller businesses, rose 9%, from 168 to 184.
Total insolvencies were down by 25% when compared with the last three months of 2015, a drop from 275 to 206.
Blair Nimmo, head of restructuring for KPMG in the UK, said the figures painted a " confusing " picture .
He said: " We have to keep these figures in perspective. The number of failing businesses now is still significantly lower than at the height of the recession, but we are beginning to see figures creep back up.
"The oil and gas downturn, coupled with an impending EU referendum and Scottish elections, have created a period of uncertainty, which inevitably results in unfavourable trading conditions.
"Changes to the minimum wage will also put additional pressure on businesses as they seek to implement the new national living wage rate.
"With those challenges in mind, companies need to continue to look at operational consolidation and efficiency improvements in order to avoid stress or distress."