Category: SME Business Savings

Tips for making payroll when you’re struggling with cash flow

<h1>Being unable to pay employees is one of the biggest indicators that a company is about to become insolvent.</h1> <p>If it looks like you’re going to struggle to meet this month’s payroll then it’s time to seriously review your finances to see where you can improve cash flow.</p> <p>Your employees rely on being paid the…




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…




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…




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…




What Are Your Options If You Can’t Pay HMRC?

The saying goes there are 2 things certain in this life, death and taxes. This ignores another certainty, unlike other creditors, HMRC will continue to pursue matters to their conclusion. This can send many business owners who owe tax into a cold sweat but it doesn’t have to spell the end of your business.   While…




Business Insolvencies Down 12%

The number of businesses entering insolvency has fallen by 12% compared to the first quarter of the year according to insolvency and restructuring trade body R3.   However it is largely a case of good news and bad news when insolvency rates compared to the same period last year have actually risen by 12%. The first…




What Can You Do If You’re Wrongly Pursued For Debts?

You probably get spam emails every day claiming you owe money but it’s a totally different matter when the claim is genuine and your creditor is claiming you owe them money when this is not the case.   Most often this type of claim is made by an organisation you have not communicated with directly such…




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…




What Rights Do Workers Have When A Company Becomes Insolvent?

While the news is dominated with reports of the demise of large businesses little is mentioned about what happens to their employees other than the usual reports of the numbers having to find themselves alternative employment. This can produce a false sense of security to insolvent business owners who may not be fully aware of…