“What exactly is an EFG’ and how could it affect me? Can you provide free advice?” The Enterprise Financial Guarantee, or ‘EFG’ was first introduced into the UK in 2008 to replace the Small Firms Loan Guarantee Scheme. The scheme…
Although my business has been successful until now, I have had a bad couple of months with the loss of a key customer that I am yet to replace. At the moment I simply can’t afford to pay my suppliers,…
Creditor pressure can be unbearably stressful. Trying to make ends meet when your business is struggling financially and maintaining a healthy level of cash-flow are two main challenges that small businesses face. Limited access to funding can further compound your…
Becoming the director of a limited company brings with it certain fundamental responsibilities laid down in the law. When these are not adhered to, directors risk what is called a ‘directors disqualification order’, which means they are banned for ‘unfit…
A statutory demand against a company is a formal, legal warning from a creditor, that is sometimes used as a key part of a serious debt claim. Any legal court judgement can be used as evidence of insolvency and this…
This article will explain the concept of wrongful trading in detail, and how this may affect you if you’re the director of an insolvency company. Concerned about Wrongful Trading? Just use the livechat during working hours for immediate help. Or…
“Can you help with business funding and alternative finance for our business?” One of the biggest perceived hurdles for SMEs today is the perception that finance is difficult to get yet major Government sponsored research indicates that of all profitable…
Both individuals and companies can be described as ‘insolvent’ but, for individuals, bankruptcy is the more commonly used term. Insolvency is when when a company’s debts outweigh assets or if the company cannot pay its bills when due. If it…
“I am trying to raise some cash to help my company trade on. Can I sell my company’s stock and assets to raise some cash?” The majority of directors have at one time or another kept their company afloat with…
A director’s loan account (DLA) is simply a record of transactions between the director and the company itself, outside of the normal salary, or dividends. When a director takes more money out of the company than they put back in,…
