Your protection is our priority“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,…
Trying to make ends meet when your business is struggling financially can be extremely stressful and how do you stop creditor pressure? Maintaining a healthy level of cash-flow is one of the main challenges that small businesses face. Limited access…
If you business owes a sum of money which it cannot currently pay a County Court threat can have serious implications for your business. The creditor may decide to make a County Court threat against your business. As the director of…
The question of how much cash you need in your business is one all company directors need to seriously consider. Poor cash-flow management is one of the leading causes of company insolvency. Without a company rescue strategy in place, this…
If you are the owner, director or officer of a company which is either undergoing an insolvency procedure, such as an administration or liquidation or has recently undergone such a procedure, there are restrictions on your involvement with a new…
HMRC is one creditor all business owners have in common, which is why it should come as no surprise that an ability to pay VAT or PAYE bills is the leading cause of insolvency in limited companies. In fact, the…
How a director’s disqualification order affects your business In a previous post, we discussed how a director’s disqualification order might come about, and how you should act, as a director of an insolvent company, to avoid this eventuality. As a director…
There are occasions when, as a director, you might consider it favourable to provide a personal guarantee in support of a business loan or a source of credit. You provide the personal guarantee under the assumption that there will never…
If your business has entered into formal insolvency proceedings, which in England, Scotland or Wales means either administration, administrative receivership, voluntary or compulsory liquidation, you’ll be understandably anxious about what comes next. To put your mind at ease and help…