Tag: Bankruptcy

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…




Why your business needs to be proactive not reactive to succeed

<h1>A reactive business responds to events as and when they happen, whereas a proactive business pre-empts and plans for changes, challenges, and crisis.</h1> <p>If you’re a business owner, becoming proactive rather than reactive is key to remaining prosperous.</p> <p>Reactive businesses are always in a precarious situation. By not reacting to situations until forced to do…




4 simple steps to managing your business’ finances proactively

Managing your business’ finances proactively can help to minimise financial loss and maximise prosperity. In a recent blog, we discussed the advantages of becoming a proactive business rather than a reactive one. If you’re ready to transform the way your business looks after its finances by embracing proactive strategies, then we’ve put together a few…




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…




My Last Business Went into Liquidation – Can I Start a New One?

Not all businesses are successes and various business gurus will tell you they had plenty of failures before they became successful entrepreneurs. So, liquidation in itself is not necessarily a big deal but starting a new business should be carefully considered.   One thing you can do is learn a lot from failure in business. Liquidation…




Insolvencies at their highest level since 2014

According to the latest government statistics, company insolvencies are at their highest level since 2014. Even more alarming is the fact that personal insolvencies are also at their highest level since 2011.   While the rise in personal insolvencies is driven by increases in individual voluntary arrangements (IVAs), company insolvencies have risen most notably in the…




How To Keep Calm Under Creditor Threats

If your business is struggling to pay what it owes then the ever present threat of creditors pursuing you is probably waking you up in a cold sweat. Creditors can come in many guises from banks to other companies and HMRC.   In the case of the latter, you’re not going to have a lot of…




How do I liquidate My LTD Company?

If you have launched a limited company and it soon becomes apparent that it isn’t generating sufficient profit to cover mounting overheads, then it may be time to consider winding up the company.   The process can be straightforward if there are no major creditors or they can simply be paid off, but this isn’t always…




Builder Case Highlights Danger of Taking Clients’ Money During Company Insolvency

Continuing to trade in the knowledge that a company is insolvent can be a precarious business as a press release displayed on the government website.gov.uk highlights.   The article relates to a builder who is now disqualified from trading altogether after it was discovered that he continued to take on work and receive payments while the business…