Successful catering business with health revenue Valeside Catering Contracts Limited, a business incorporated in 2002 had been a successful husband and wife catering company, servicing a number of hospices, golf clubs and other corporate clients across the home counties and south east. Post pandemic, the 2021 accounts reported a healthy revenue of £1.4m, pre-tax profit of £97k and a balance
The end of the ban on Winding Up Petitions One of the key measures in the government’s attempt to protect businesses badly affected by the pandemic was to insulate them from being wound up by unpaid creditors. There was a total ban on the issuing of a Winding Up Petition (WUP) from March 2020 to September 2021 and then a
Businesses struggling to pay their bills were given unprecedented breathing space during the pandemic, as the government closed off every avenue of attack for frustrated creditors. Now the gloves are gradually starting to come off. Landlords are still bound hand and foot and will be until at least the end of March 2022, but other creditors can now use the
The last 18 months have been a challenging time for many SME business owners and directors. The pandemic has created unprecedented difficulties, leaving business owners buried in decision making and unsure of how to navigate this increasingly unknown territory. For many business owners, their personal wealth and retirement plans will be bound to their business’s financial position, making this challenging
Limited liability arrangements have long been thought of as a secure way for a business owner or director to clearly separate and protect their personal wealth from their business liabilities. Unfortunately, over time, these protections have slowly eroded, leaving business owners and directors in a more uncertain and, given the current times, potentially volatile position, both for their business and
There are numerous challenges SME business owners are facing in the current economic climate. The turmoil of the pandemic, coupled with the upheaval of Brexit, have left business owners needing to deal with unprecedented problems all at once. Changeable markets, supply chain issues and cash flow concerns, alongside the increased liabilities from Bounce Back Loan repayments, HMRC arrears and pressure
