During these uncertain times we understand the impact of financial difficulty can be devasting both on your business and your quality of life.
All of the government’s recent focus has correctly been on how to support businesses, stop business bankruptcies and save jobs with measures that in a normal recession would have been unthinkable. The grants, the government backed loans schemes, the deferment of taxes, landlord eviction measures and the job retention scheme have all played their part in helping businesses stay afloat until they can reopen.
The focus has now shifted on the viability of our UK businesses to avoid mass business bankruptcies. The CBILS and BBLs will have to be paid back, the deferment of taxes will come to an end, landlords and other creditors will want to be paid. So many financial triggers to deal with.
Is your Business at Risk?
Once you have identified that a problem exists, you should seek assistance from a licensed and regulated insolvency practitioner such as us, who can assess your situation and provide you with the options available. Insolvency does not need to mean the end of the road. So do any of these resonate with you:-
- Suffering from creditor pressure?
- Struggling with overhead costs such as rent and employee’s wages?
- Experiencing cashflow pressure?
- Pressure from HMRC in respect of unpaid PAYE, VAT and Corporation Tax?
- Struggling to pay back the Bounce Back Loan or CIBL?
- Is your bank reducing their exposure to your business by reducing overdraft facilities?
What we will do
We appreciate that every business is different and each industry comes with its own unique challenges. This is why we take time to achieve the outcome you desire as a director. The future direction of your business requires thorough discussion so we will need to speak with you and analyse your company’s current position. Some owners want to rescue their business whilst others would rather discuss exit strategies. Once you have made contact with us, our initial advisors will establish if there is a way in which we can assist you – if we can, we will then arrange for a free face to face consultation to provide free usable advice, explaining in simple terms the options available to you and how you can move your business forward.
How we can help
The first step is to make contact with us. Once in touch we can talk through your current situation and go through how we can help you – we have many years’ experience in dealing with companies of all sizes, and there is nothing that we haven’t come across. All advice is free of charge, and we are licensed and regulated by the Insolvency Practitioners Association so you can be assured the advice you receive is regulated in the interest of what is best for your business.
There are many options available to help directors with business recovery; although the options available can vary depending on the company’s current circumstances.
To help you understand the insolvency decision-making process, we have prepared an Insolvency Options flowchart exploring the three insolvency routes in an easy to use, jargon-free way. It is a starting point for those business owners who are examining their next moves or simply click on the links below to explore your options further.
We have prepared a handy guide to explore the options for both insolvency and business rescue which can be accessed below.
It is not always clear which options are the right ones for your business. The first step is to call us.
Call our Business Rescue Service now on 0800 118 2948
You don’t know what we can do until you ask.