The secret to turning round a business in trouble is taking the right advice at the right time.
Bad debts, decreasing demand, out-of-control borrowing and sinking property values can all lead to the collapse of otherwise promising companies. Too often, in our experience, business owners don’t face up to these problems until it’s too late to avoid liquidation or receivership.
If the risk of losing your business isn’t argument enough, there’s also the fact that directors who don’t act in time could face prosecution under the Insolvency Act.
Our team of trained professionals can identify the cause of your problems and recommend solutions. Sometimes, a fresh pair of eyes is all that’s needed to spot easy-to-fix issues.
With our help, you should be able to improve profitability and cashflow through improved financial processes, resolving outstanding payments, cutting costs, and so on.
In some cases, it might mean a corporate or individual voluntary arrangement which will give you chance to try to trade out of difficulty.
If it ultimately your business does have to go into administration, receivership or insolvency, we can guide you through that process, too.
But let’s head off that possibility in good time. If you’re at all concerned or anxious about the health of your business, get in touch so we can arrange a health check as soon as possible.
We can help you;
- Identify structural issues
- Find savings and efficiencies
- Improve cashflow
- Organise voluntary arrangements
- Manage insolvency procedures
Talk to us today
Arrange a chat with Tom, Ian or another member of our accounting team so we can learn more about you, your business and how Briants can help.