Category: Insolvency laws

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….




Leaked letter warns that a no-deal Brexit could trigger another recession

A leaked cabinet letter has revealed that another recession could hit the UK in the event of a no-deal Brexit. This news has come just as the EU’s chief Brexit negotiator Michel Barnier announced that a no-deal Brexit “becomes day after day more likely”. The letter from cabinet secretary Sir Mark Sedwill contained analysis that…




The top 5 threats to your business’ cash flow

One of the commonest reasons that businesses fail is because they’ve run into a cash flow crisis. A steady stream of incoming cash is usually a sign of a healthy, thriving business. Cash flow is not only important to the day-to-day running of your business, it is also essential for growing your empire. Protect your…




Are we heading for another recession?

With the political and economic future of the country looking uncertain, many experts fear that another recession could be on the horizon. The 2008/2009 recession was hard on UK businesses, with almost 27,000 businesses going into liquidation or becoming insolvent, more than in any previous recession. With recessions usually occurring roughly once a decade, and…




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,…




Can A Dissolved Company Be Restored?

If your business is facing insolvency this year then you may be thinking about what happens after. Will everything you worked for be gone for ever?   Sometimes a business will reach its natural end with no prospect of a rescue or rebirth while it is possible for some businesses to come back from the dead….




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…




More Construction Insolvencies As Carillion Fallout Continues

Anyone hoping for better news in the construction industry will have to wait longer as data shows hundreds of construction firms entered insolvency in the first quarter of the year.   The collapse of Carillion may have grabbed all the headlines due to its high profile and size, but the ripple effect is already looking a…




Is Your Business Set Up To Fail?

This may sound like an odd question, we can all talk about how we work hard to succeed at our businesses, put in the hours and so on but often this effort can be misplaced and not in the long term interests of the business.   Weaknesses in any of the key areas of what makes…