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…
If your business has suffered as a result of a significant bad debt and it pushed your own business into insolvency how can you avoid it happening again? Here are some tips to protect your company. Insolvency happens to many businesses every year, some manage to put in place a turnaround programme and recover to…
The latest statistics show fewer businesses are going bankrupt this year than last year which points not only to an improving economic climate but a greater awareness of alternatives to bankruptcy. The UK economy is back performing well and apart from the outside threat of Greece going bankrupt, it is likely that most businesses can…
There is little doubt that Greece finds itself in a perilous state. Creditors are queueing up for their cash, deadlines for payment have been consistently missed and there appears to be no way out. A bit like a small business becoming insolvent really. Becoming insolvent, however, is usually preferable to becoming bankrupt whether you happen…
The traditional high street in the UK is changing. Walk along the main streets of most provincial towns in the UK and there are likely to be at least one or two shops abandoned by insolvent retailers and bankrupt high street chain stores. To combat this there have been several movements up and down the…
It’s not often that the HMRC decide go back on their policies, so their decision to waive the £100 fine they hand out to businesses that missed their filing deadline will come as some welcome news for businesses that may be struggling with cash flow problems. Every little helps as they say and the 890,000 people who…
‘Bankruptcy’ and ‘tourism’ are not often words you see joined together apart from when they are mentioned in connection with the UK which has one of the friendlier countries when it comes to bankruptcy. One of the benefits of being in the EU is the ability to move between countries and take advantage of loopholes…
If one of the biggest boy bands of the noughties can all end up bankrupt what does that tell us about our own financial security? Blue dominated the charts in the 2000s with several hit records. In fact they achieved 40 number ones and sold a total of 15 million records and counting. This is…
Bankruptcy is never an easy option particularly when it comes to your business interests. Back in the old days, bankrupts were thrown into debtors prisons and given long sentences. Fortunately those days are long behind us and there is a bit more compassion shown to those who find it impossible to pay back the debts…
Personal bankruptcies in the UK are becoming a bit of a rarity with the number of people taking the last resort falling dramatically in the last five years. Bankruptcies are reported to be at their lowest level since 1998 according to the Insolvency Service. The number of people declared bankrupt in the UK fell by…
