Every month Business Recovery help businesses improve their cash flow. Request a quote to find out how much extra cash you could raise.
Continuing to trade when you know, or suspect, that your business is insolvent can lead to accusations of wrongful trading.
Even if matters don’t get that far, it’s still uncomfortable to be approaching possible insolvency. Not having enough money to pay your bills, your staff and even yourself can be a serious worry, and you face the prospect of losing the rewards of years of hard work.
If you’re concerned about the possibility of wrongful trading, or simply want to talk through the options for improving your firm’s cash flow, why not give us a call now on 0800 157 7355.
In good times and bad, it’s important to stay on top of your cash flow by planning ahead. Even profitable firms can run out of money if customers are slow to pay or a large amount of cash needs to be laid out up front for a particular project.
Cash flow planning does not need to take up a lot of time, particularly once you’ve established a system and a routine. It also helps you to get a better understanding of how your business works, and could even help to save money as you question whether some of your expenditure is really necessary.
Planning ahead also involves investigating the different options for raising additional capital. Businesses don’t grow without investment, and, in general, the faster you want to grow, the more cash you need.
Firms of all sizes are increasingly taking advantage of the capital tied up in their assets, as it helps to keep debts lower and reduces the reliance on overdrafts and loans.
Potential cash flow solutions include:
If you are a company director, it’s important to be aware of your responsibilities. While limited liability offers directors and shareholders a measure of protection if a company fails, the directors can be held personally liable if they are found to have been negligent.
Your responsibilities include compliance with health and safety rules and employment law, but the majority of them relate to financial matters. If your business is struggling to make payments to HMRC, suppliers or staff, you should consider taking action to deal with the problem.
If you’re looking to avoid the risk of insolvency by improving your cash flow, the Business Recovery team is available to take your call.
They have helped hundreds of UK firms to access new sources of working capital, allowing them to strengthen their position.
Discover how to improve your cash flow by making a no-obligation call to the Business Recovery experts now on 0800 157 7355. Our service is entirely free to you, so there is nothing to lose.