Every business owner(s) or shareholders should have an exit strategy because there will inevitably come a time when the business itself reaches the end of its life or the owners wish to leave the business and move on. But what exactly is an exit strategy in practice? Here’s a brief guide to explain… The confusing…
Retailers Homebase have just become the latest major store chain to face the threat of extinction only to be saved from administration by a company voluntary arrangement (CVA) which has for now been agreed with creditors. Given the fate of many large household retail chains in the past decade it would be easy to assume…
You may have heard a lot about companies seeking buyers when they are on the brink of insolvency but is it really possible to find a buyer of a company that looks like a sinking ship? The answer to this is yes if a suitable buyer can be found. There are a number of ways…
Some high profile insolvencies in recent such as the controversial case involving former high street retailers BHS, has led to the government proposing a clampdown on directors who try to avoid paying staff and pensions by liquidating companies. As part of the proposals, companies will be given more time to try to rescue a business…
Debt isn’t always a bad thing for business. Sometimes taking on debt is necessary to develop, expand and grow a business. Sometimes, however, debt can get out of hand either due to taking on too many loans or if the business doesn’t bring in enough revenue to keep up with repayments to name but a…
No matter how many posts you might see on social media about failure leading to better things, failure is still failure no matter which way you look at it and learning from the failure is crucial if you want to avoid presiding over a string of failed businesses. Some of the most common reasons that…
To the less experienced entrepreneur, buying a business in debt might sound a bit counterintuitive but there are plenty of cases where this can be a wise move as long as the potential long term rewards outweigh the risks. This assessment of risk is absolutely vital as things can go wrong even following the purchase…
Business turnaround strategies inevitable involve change. This can be a change of direction, a change in the approach and even branching out into new areas. The first step is to accept the new realities of the sector your business operates in and embrace change with the following strategies for business turnaround success. Accept losses and…
