Category: Insolvency Risk Grows

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,…




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…




How to Stave Off Insolvency

Insolvency is something businesses of all sizes are vulnerable to as we have witnessed in recent years. Once a business gets into financial difficulty, then things tend to take on a momentum that is difficult to stop as the slide towards insolvency continues. Sometimes a business can be brought back from the brink if owners…




When Insolvency Has A Bigger Sting In The Tail

The story of one unfortunate former restaurant owner serves as a warning that insolvency can leave business owners open to further scrutiny of their business.   The recent case involving Azam Ail, former director of the Indian Restaurant Pabna Restaurant Ltd (Pabna) ended with 9-year ban from the promotion, formation or management of a company unless…




Advantages Of Letting A Failing Business Go

If you have put your heart and soul into a business it is never an easy decision to just let it go into into liquidation. Sometimes, however, simply letting go can help you move on to something better and a lot let stressful. Here are some reasons why liquidation can sometimes be the better option  …




Rescue Or Liquidation? How To Decide What Is Best For Your Business

If your business gets into financial difficulty then you will only have two options, try to save it or allow it to go into liquidation. So how do you decide which option is the right one?   The route you decide to go down depends a lot on the circumstances surrounding the financial difficulties you find…




Why Customer Retention Is Important

Customer retention can mean the difference between business success and business failure so working on it is of vital importance to any business particularly in tough times.   If your business is in financial difficulty, then your regular customers can provide some vital help in getting it back on track. Not only that, happy customers and…




3 Ways to Get Out of Business Debt Fast

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…




Insolvency Risk Grows For UK Businesses

The end of 2017 brought a gloomy conclusion for UK businesses as insolvency restructuring trade body R3 found that a third of the companies involved in its survey had a higher than average risk of insolvency.   This represented an increase of a quarter at the beginning of 2017 and casts some doubt over the underlying…