Cashflow problems are an all too common occurrence that almost every business will be faced with at one time or another. Cashflow problems will arise for all manner of reasons, from excessive capital and high levels of personal drawings, to…
As a director of a limited company, you should be remunerated accordingly for the work you do. You’ve taken the brave step to set up your own business and live without the security that comes with working as an employee,…
If you’re a Ltd company director whose business is struggling to pay its bills and staring down the barrel of an insolvency, you might be concerned that you could be made personally liable for your business’ debts. One of the…
If an employer enters into insolvency then it is understandably an extremely anxious and worrying time for the employees. Thankfully, there are special arrangements for employees who are dismissed as a result of the insolvency of their employer. The National…
Anyone looking to buy a failing company will have to tread carefully. The fact that a business has entered into administration or liquidation means there are severe financial problems that need to be resolved. There might be pressure from creditors…
A County Court Judgement against a limited company is essentially a court order, issued by a county court, that enforces the payment of a debt. If a creditor has taken reasonable steps to recover a debt, they may then apply for…
Business rescue is on the rise. Official Insolvency Service statistics for the third quarter of 2014 show a reduction in corporate insolvencies and an encouraging increase in business rescue procedures. What does this mean for your business? Well, if your…
These include: Insufficient cashflow – If your company consistently lacks the funds to cover essential operating expenses it’s simply a matter of time before it becomes insolvent. Overdraft Limit – If your company is also functioning at the limit of…
In previous posts we have discussed the growing problem of late payments and the knock-on effect on cash-flow management in small and medium-sized enterprises. With the value of unpaid invoices in the UK currently in excess of £40bn, what, if…
The prompt payment code, explained. The problem of late payment has been widely publicised in the last few months, with an increasing number of small and medium-sized enterprises (SMEs) struggling to make ends meet. Despite government guidance that encourages small…
