My Business Is Bust
Helping You Make The Right Choices
My Business Is Bust
Thinking That Your Business Is Bust? What Are The Options?
There is nothing worse for a business owner than the creeping realisation that the business is going bust. Small things become larger things and begin to take over the whole fabric of the business.
Even back in 2006 eighty businesses went bust every day, and that was in much more affluent times. In 2009 the situation is much more grave. "Of the 4.7m British small firms, 200,000 could go bust in 2009", according to the Forum of Private Businesses (source: Times Online Business section, January 4 2009). That grim forecasr means that around 5 percent of all of the U.K.'s small businesses will go but in 2009-10.
On top of that, and in the context of the squeeze in business credit, there is a creeping tendency to see small firms in certain market sectors as high risk.
But it neededn't be like that. If your business is bust or about to go bust - or if your business is beginning to show signs that it is in difficulty - there are all sorts of measures that can be taken to prevent disaster happening. Such useful instruments as Company Voluntary Arrangements (CVAs), Partnership Voluntary Arrangements (PVAs) and various other measures have been designed as a way out from disaster to recovery, either in the present form or as another business entity.
If you would like to talk to a specialist with 17 years corporate insolvency experience then enter your details into the web form below for a no-obligation chat.
However, if you need help with personal debt (rather than business related debt) go to our free debt management plan application form.
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