The Insolvency Services has recently published the official insolvency statistics for 2018. As widely reported, pretty sorry reading they make. Here are our thoughts on how 2019 may look.
Spotting the Warning Signs
How do you spot the warning signs of a failing business?
2018 Q1 Insolvency Statistics
The Insolvency Service has published the official insolvency statistics for England and Wales for the first quarter of 2018.
Restructuring and insolvency professionals announce merger
Two leading firms of business turnaround, restructuring and insolvency professionals have announced a merger.
A director is a director
It’s quite common for individuals running companies to appoint their spouses or partners as directors of their company, even though there is no intention that the spouse or partner should take any active role in the company’s management. Apart from anything else, there may be sound tax mitigation reasons for doing so.
Brexit: A personal perspective
Well, well. Who’d have thought it? The nation has had its say and it seems we want out of the EU. So what are the consequences for UK businesses? In the short term we are inevitably faced with a period of uncertainty.
So are you a director?
Who are the directors of a company? At first sight that’s a pretty straightforward question to answer. Surely, you simply look at the company’s records at Companies House and there you’ll have it. But it’s not quite that easy. The law defines a director as “any person who holds the position of director, by whatever name called”.
Bad debt: a fact of business life
Even companies with the most rigorous credit control procedures run the risk of incurring a bad debt should a customer fail. For smaller companies, incurring a significant bad debt can result in the end of the business itself.
A sale is not a sale until it’s paid for
Cash flow is the lifeblood of any business. That’s why it’s absolutely crucial to collect debts due from customers for goods or services sold on credit. Indeed it has been estimated that late payment is a major factor in at least 1 in 5 business failures.