The flip side of rampant inflation is how it deflates not just the disposable income available for the basics in life, such as food, energy and transport, but the resources available for individuals to repay past debts through an Individual Voluntary Arrangement (IVA). Almost 160,000 IVAs were started in 2020 and 2021 in England and Wales and a further 42,789
Having a poor credit score is a current concern for many businesses and in some industries, a potentially fatal one. If a company is deemed to be a poor credit risk, the working capital implications can be significant. Suppliers will struggle to get trade insurance cover for doing business with it and lenders will shy away from providing finance. Five
Whilst many know what Zombie companies are, how they are created and why they are a problem for both the economy generally and can be for their Directors. In this article, we look deeper into the problem. How many UK Zombie companies are there and what are the financial parameters of this phenomenon? The size of the UK Zombie company
Whether you are a small to medium sized enterprise or a larger corporate entity, the last 2 years have been challenging for everyone with some sectors faring better than others. Even if in the same sector, every situation is very different. The key, when identifying business challenges, is to seek advice as soon as possible, as time can often be a
The furlough scheme ended in September 2021 and from then on, creditors were once more able to issue Winding Up Petitions to recover outstanding debts. The last of the UK government’s extraordinary £300bn plus Coronavirus support for businesses was finally withdrawn at the end of March 2022, when landlords could once more enforce rent arrears (with some minor exceptions). So
As the Coronavirus outbreak morphed into a once-in-a-century pandemic in early 2020, governments all round the world started to pour unprecedented sums into their economies in a frantic effort to support individuals and prevent viable businesses from filing for insolvency prematurely. The UK provided a boost of well over £300bn through a bewildering variety of schemes. Over two years on,
