Well, here we go again, another year, and lets hope it is a great success for everyone!
However, history tells us that January can often be a month of huge financial pressure on business of any type. Commercial rental payments due, VAT payments due, Corporation Tax assessment, along with personal tax payments due and tax returns at the end of January! Oh dear!
It is often now that a business will "take stock" after the madness of Christmas trading, and as the bills start to pile up they may well realise that there are not enough pennies in the bank to service all the amounts due. This can lead to a huge amount of pressure on company directors / owners / sole traders, and may lead to financial difficulties in their personal life as well - they may not take a full salary in January in order to "help" the business through a quiet patch, but this can have a knock on effect on their own personal situation - they still have mortgages to pay, credit cards to settle, and who knows what other matters to deal with!
All this can lead to the directors etc not being able to fully concentrate on their business, and guiding it through a tougher time - whilst it may only be for a few short weeks, any ignoring of outstanding debts can soon mount up, as other businesses that are struggling will take more aggressive action, and sooner, to recover the amount owed. This then becomes a vicious circle, and companies end up insolvent.
This need not be the case, with careful handling and planning. By calling in Global Insolvency Solutions, the pressure can be taken away from the company management, and Global can negotiate some breathing space to allow the business to continue to trade and grow. All the chase phone calls can be stopped, and any pending court action from debtors or even HMRC can probably be stayed - all buying valuable recovery time, and easing the pressure on all concerned.
It is far better to use my services in January and February initially, rather than just hoping that things will improve next month, and you can sort it all out then! What happens to the invoices you owe from this month? Will your suppliers continue to supply you if you owe money and are not responding to their requests for past payments? How difficult could that conversation be with your staff if you do not have the funds to pay them at the end of January, just when their personal credit card bills start arriving for their Christmas spending? All this can be avoided, with a bit of careful planning and the services that we can provide.
If necessary, we can arrange all forms of business finance, if this is the best route, from increased overdraft, invoice factoring / financing, extended credit terms, remortgage (both commercial and private), and all in all look to provide the best solution for all parties concerned - at the end of the day, the aim of Global Insolvency Solutions is exactly what the name suggests - to provide a solution to insolvency.
If, at the end of our initial free consultation, none of the survival options we suggest are acceptable, and full insolvency / liquidation is the only option, then we are happy to provide a full assisted service by introducing to expert Insolvency Practitioners, and will provide our help and guidance all the way - even helping to set up a phoenix plan, or a pre pack administration if that is what is best for all concerned.
So, even when the darkest days of January arrive, I firmly believe that most situations can be resolved, and the business can continue to trade, and even grow.
As part of the Global Insolvency Solutions group, I can offer full business turnaround advice and guidance. Primarily dealing with business that are in financial difficulty, I can step in and deal…
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