Just a quick note to say a big thank you to all the staff at KSA, our CVA was passed today by creditors voting in an overwhelming number including HMRC to accept the proposal as prepared by KSA.
The road to reach today’s conclusion has been bumpy, but at each stage your team has supported and guided us through the issues and we have reached a very satisfactory outcome to the benefit of customers, staff, all creditors and shareholders.
Assess your situation
The reason you are visiting this page is you are worried. What is it that is making you worried?
Usually it is pressure. Running a business is not an easy thing to do, being a director of a limited liability company, partner or member of a LLP can be a lonely place.
You may be really good at running a business in the good times. But no one has trained you or your fellow managers for difficult times and nothing except experience prepares you for when the pressure starts to build.
What kind of pressure can you face running a business? There are lots of pressures but the one that usually worries people most is simply cash flow pressure, or the lack of cash to be precise
Perhaps the business is growing too fast for the capital it has available (capital just means cash availability) or it has too many costs or too many people for too little sales, so instead of making a profit it loses money and may begin to run out of cash.
This website is designed to help you deal with the pressures and the worries of running a struggling business.
We're not here to advise fast growing very profitable cash rich businesses (although one day they may need this?!) We are here to help hard working business people deal with these pressures and worries.
Today you are going to start taking control of the pressures and worries…..
First be realistic and be honest with yourself and those who work with you. Don't try and ignore cashflow pressure, creditor pressure, or other business issues that make you have sleepless nights. If you had a pain you would take some advice or take medicine to deal with it, being in a struggling business is no different you need to get expert advice a d some medicine is required.
To begin to assess your company's position you need to follow this simple logic.
- Ask yourself what is it that is making you worried? Write these issues down. Be honest and complete.
- Assess whether the company or business is insolvent. You can check the three insolvency test by clicking this link
- If the business is insolvent this is a condition it is not terminal. It does not mean that the company or business has to stop trading today - it simply means that you as a director or senior person in the business have a legal responsibility to learn about the situation and do something about it. Simple?
- Write down on a spreadsheet or a piece of paper all debts owed to all of the company or business ' creditors. Include bank loans, P2P loans, asset finance like car finance, all suppliers and landlords. Not to the penny, just approximately will do.
- It is not wise to use historic or old information like last year’s annual accounts to do this. No, make a list of all of the money owed to all creditors today. By doing this you will get a clear picture of the company’s financial position with regards to debt.
- Now on the same piece of paper or the same spreadsheet, write down all of the assets that the business has to include cash, stock, work in progress, debtors (those are the customers that owe the business some money) and any other assets such as vehicles, machinery or property.
- Write down the positive stuff like good product or services, order book, promised contracts etc.
- By having all this information in one spreadsheet or on one piece of paper you will be able to see quickly whether there is more in the negative column than in the positive or vice versa
- Now write down whether you and senior management believe the business has a good future, what is required to get to that good future and whether you believe you and senior management are determined to make the business work. Be honest, if you are too tired or see too many problems to continue then you may have to stop.
- But speak to experts who can fix your problems first before making “go” or “stop” decisions, call us we will help you. Remember this is a business it is not a matter of life and death!
Now that you have established the financial position and whether you believe the business can be viable in the future or not, you need to decide what options are available to fix the problems that you listed.
All of the solutions are set out on this huge free to use website AND we have 10 experts available across the country to speak with you FREE today.
Take back control NOW. By following the above simple steps you will have a good up to date picture of the business situation.
Now call our friendly experts on 0800 970 0539 or fill out the form below. By quickly taking back control we can help you solve the problems that the business has.
We can help you decide whether the business or company requires a stop or go decision.
Everybody tells us that they feel much better when they start to talk to experts who deal with business problems every day. Call (0800) 970 0539, fill out the form or send us an email.
The quicker you take back control - the sooner you will sleep at night!
KSA Group which owns this site, will help you fix problems in your business. We won't charge for any initial advice or face to face meetings. We speak in English. We will save you money and your precious time.
We also follow up any meeting with a full "solutions report" which runs on average to 30 pages valuable free advice!! No other practitioner offers this service. In this report we advise on ALL the options and explain them clearly. We advise on a course of action given the information you have given us ( the more information we have the better we can advise!)
- What is a CVA or Company voluntary arrangement?
- Complete Guide to Creditors Voluntary Liquidation CVL - Confidential Download
- What is administration
- Pre Pack Administration Process and Procedures
- Winding up petition
- Worried Director What Will Happen To Me After Liquidation?
- Personal Guarantee What Happens In Insolvency?