Category: Business Insolvency Risk

What effect does debt have on mental health?

Business owners at risk of becoming insolvent may find that their mental health is suffering as well as their finances. There’s no doubt about it, debt is a burden, not just to your business, but to your health too. The strain of a failing business can also cause problems with personal finances, causing the pressure…




Tips for getting invoices paid on time

Although you can’t control when your customers decide to pay you, these tips will increase your chances of getting paid on time. Getting paid on time is key to your business’ success. One of the key reasons that businesses run into cash flow problems is because they’re struggling to collect the money owed to them….




Why your business needs to be proactive not reactive to succeed

<h1>A reactive business responds to events as and when they happen, whereas a proactive business pre-empts and plans for changes, challenges, and crisis.</h1> <p>If you’re a business owner, becoming proactive rather than reactive is key to remaining prosperous.</p> <p>Reactive businesses are always in a precarious situation. By not reacting to situations until forced to do…




4 simple steps to managing your business’ finances proactively

Managing your business’ finances proactively can help to minimise financial loss and maximise prosperity. In a recent blog, we discussed the advantages of becoming a proactive business rather than a reactive one. If you’re ready to transform the way your business looks after its finances by embracing proactive strategies, then we’ve put together a few…




Insolvencies at their highest level since 2014

According to the latest government statistics, company insolvencies are at their highest level since 2014. Even more alarming is the fact that personal insolvencies are also at their highest level since 2011.   While the rise in personal insolvencies is driven by increases in individual voluntary arrangements (IVAs), company insolvencies have risen most notably in the…




How do I liquidate My LTD Company?

If you have launched a limited company and it soon becomes apparent that it isn’t generating sufficient profit to cover mounting overheads, then it may be time to consider winding up the company.   The process can be straightforward if there are no major creditors or they can simply be paid off, but this isn’t always…




If My Company Goes Bust Will It Harm My Personal Credit Rating?

If your business faces closure this year you will no doubt have plenty of things on your mind to worry about without adding personal worries to the equation. One of the major concerns for many directors is the potential impact on their own financial future and their credit rating in particular. To ease those worries,…




Will Business Insolvency Mean I Lose My House?

Losing a business to insolvency is bad enough – losing the home you worked equally hard for is something else. This is why many business owners end up worried about the implications of their business entering insolvency and whether or not they will be personally liable.   Unfortunately for sole traders, this will almost certainly be…




Will Business Insolvency Cost Me Anything?

The answer to this is it depends both on the complexities involved, creditors and insolvency practitioners hired to deal with the process. Insolvency should never be seen as an easy option as a result of the many variables that need to be considered first.   Potential fees for a business going insolvent might include the costs…




What is Debt Management?

Your business may require debt management if it is no longer generating enough income to cover its outstanding liabilities under the original agreements made with its creditors. The process is similar to when individuals ask for help to pay their debts rather than face insolvency and potential bankruptcy.   While any company requiring debt management services…