FAQs

Stop Creditor Pressure – What are your Options?

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…

“Wrongful Trading vs Fraudulent Trading: What are they?”

Wrongful trading can be better thought of as ‘irresponsible trading’ and mismanagement of an insolvent company.  It was created as a statutory offence so creditors could recover money from directors who wilfully traded irresponsibly (and acted without care or consideration for the…

Business Funding and Alternative Finance SMEs

“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…

What is Insolvency?

Both individuals and companies can be described as ‘insolvent’ but, for individuals, bankruptcy is the more commonly used term. Companies are considered insolvent either when when debts outweigh assets or if the company cannot pay its bills when due. Once…

Raising Finance Fast

“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…

What is an Overdrawn Directors’ Loan Account?

A directors’ 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,…

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