We often talk about company turnarounds, but what exactly does the term entail? A company turnaround is exactly what it sounds like. It is the financial recovery of a company that has been performing poorly for an extended period. Things need to change. A turnaround will get your business finances back where they need to
It’s vital that businesses do everything in their power to remain solvent. Businesses have a range of liabilities, and when they are able to keep on top of them they can stay prosperous and plan more effectively. Assets are incredibly important to businesses, and when they don’t have enough, they may struggle to pay their
Insolvency happens when companies or individuals’ financial obligations outweigh their assets. When companies are unable to pay off debts when they are due, they are insolvent. Many companies and individuals face insolvency each year. Some are able to quickly resolve the issue, whilst others are forced to take serious measures in order to deal with
Insolvency is the last thing a business wants to have to face, but sadly, it’s an all too common problem. A total of 4,308 companies entered insolvency in Q3 2018, including 3,083 creditor’s voluntary liquidations (71.6%), 741 compulsory liquidations (17.2%), and 484 other insolvencies (11.2%). But if you’re facing insolvency, it doesn’t always have to
Whether you’re a company or an individual, insolvency ultimately leads to an individual voluntary arrangement, company voluntary arrangement, or bankruptcy. Any such endpoint will protect those in trouble from their creditors, and may result in the creditors losing some of the money they are owed. For those who have genuinely hit hard times, these are
Bankruptcy is often the last resort for those in financial difficulty, but it’s never a good place to be. The good news is there are lots of things you can do to reduce the risk of going bankrupt. Whether you’re beginning to struggle financially or simply want more money to play with, here are five