There’s no doubt these are tough and trying times for businesses across the United Kingdom. The effects of COVID-19 on the economy are unprecedented, and businesses are being forced to pivot, to adapt and, in many cases, to seek support on a level never seen before. Unfortunately many businesses have had to declare insolvency, call
If your business is starting to encounter financial difficulties, you may become aware of technical terms such as bankruptcy or insolvency. Unless you’re a financial wizard, it’s likely these two terms might cause some confusion. Insolvency and bankruptcy are often seen as the same thing. But while they might at first appear similar, they are in fact very different. To make
An insolvency practitioner can provide essential support, guidance and advice when you are facing financial issues, whether as a business or an individual. However, what might not be clear, is when the right time is to contact an insolvency practitioner. It is important to understand that an insolvency practitioner is not simply a financial emergency
A question we explore when looking at a business’s finances is: are you declining, on the verge of bankruptcy, or bankrupt? When your business becomes fortunate enough to morph into a franchise, it is vital to develop a profitable financial plan and to keep your business up to date. A lot of enterprises falter due
Bankruptcy remains a big concern for any business that is struggling with its finances. There were just under 4000 new UK company insolvencies in the second quarter of 2018, a scary figure for small businesses who may feel themselves slipping. One response to the threat of bankruptcy is to get out while you can and
No one goes into business thinking they will have dealt with insolvency; however, the stark reality is that many businesses end up faced with that very situation. We are living in uncertain economic times, and as a consequence, company insolvencies are on the rise. The rise in company insolvencies According to the latest report by