Understanding the Administration Process

Administration is an insolvency process in which an administrator is appointed to take control of the affairs of an insolvent company. It is one of the options available to insolvent companies that have a potentially viable future. This process protects limited companies and partnerships from legal action being taken against them, without approval from the […]
How to Set Your Business Up for Success in 2025

With the new year approaching, it’s natural to reflect on your business and set new goals for the future. For many businesses, this often involves setting financial resolutions – such as cutting unnecessary expenses, reducing debt, or making more money! In this blog post, we’re offering tips on creating a realistic financial plan for 2025. […]
3 Tests to Find Out If You Are Insolvency-Bound

Even if your business isn’t currently facing financial difficulties, it’s important to be proactive and aware of potential warning signs that could indicate insolvency is on the horizon. By conducting regular checks and addressing issues promptly, you can take steps to protect your business and avoid a crisis. Here are three key tests to help […]
Recognising and Preventing Insolvency

Insolvency is a serious issue that can have far-reaching consequences for a business and everybody involved in that business. Early detection is crucial in mitigating losses and exploring potential recovery options. In this blog, we’re exploring key indicators that a business might be heading towards insolvency, and how you can prevent it. What is Insolvency? […]
Debunking the Myths Around Insolvency

Facing insolvency can be a stressful experience. On top of the financial burden, you might be worried about what it means for your future. Unfortunately, there’s a lot of misinformation floating around about insolvency, which can make things even more scary and confusing. So, let’s clear the air and debunk some of the most common […]
The Stigma of Insolvency: Why Seeking Help is Your Strongest Move

Financial difficulties can be incredibly stressful. But when things get truly tough and insolvency becomes a possibility, shame and stigma can often prevent individuals from seeking the help they desperately need. But here’s the truth: insolvency is a financial issue, not a moral failing. Unexpected events like job loss, illness, or economic downturns can throw […]
Understanding the Difference Between Insolvency and Liquidation

Terms like “insolvency” and “liquidation” are often used interchangeably, leading to confusion. However, they are distinct and have different implications for companies facing financial difficulties. A question we’re often asked is what is the difference between insolvency and liquidation. In this blog post we will clarify the differences and how they impact businesses. Insolvency: Insolvency […]
Most Common Causes Of Business Insolvency

Business insolvency occurs when a company is unable to meet its financial obligations, including paying its debts and bills as they become due. It is a distressing but often avoidable situation that can lead to the downfall of even the most promising ventures. Understanding the root causes of business insolvency is crucial so you can […]
Directors need to tread carefully to avoid personal liabilities

Author: Stan Coltman Any business can have a financial problem and no business is immune from the impact of recession and to think otherwise is both short sighted and naïve. Those businesses that will survive need a route map (aka a business plan) to know where they are and where they are going. By knowing […]
Calling All Suppliers

When was the last time you looked at your supply contracts and the terms and conditions contained within them? Now may be a good time to have a review in the context of Section 233B into Insolvency Act 1986 (“233B”) as the exemption for small entities expires on 30 September 2020. (233B (15)). 233B relates […]