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Why Directors Delay Getting Advice

16th March, 2023
Robert Moore

Written ByRobert Moore

Marketing Manager


Rob has over a decade of experience in web and general marketing. He has extensive knowledge of the Insolvency sector and has helped many worried directors with their questions.

Rob is now working with the Board at KSA Group Ltd to develop strategic marketing programmes to support the business plan and drive more company rescues.

Robert Moore

There are many reasons why directors don’t act when they are worried about something. Here are a few possibilities:

  1. Avoidance: When you are worried about something, it can be tempting to avoid it altogether rather than confront it. Procrastination can be a way of putting off dealing with the problem or issue, in the hope that it will go away or resolve itself.
  2. Fear of failure: If you are worried about your business failing or not meeting expectations, you might put off taking advice because you are afraid of facing that failure. By not starting the task, you can avoid the possibility of failing and feeling bad about yourself.
  3. Being Overwhelmed: When directors are worried, they may feel overwhelmed by the task at hand. Procrastination can be a way of avoiding the feelings of stress or anxiety that come with tackling a difficult or complex task.
  4. Perfectionism: Some people may not take advice or delay doing so, because they have high standards for themselves and are worried about not being able to meet those standards. This can lead to a sense of paralysis, where they are unable to start the task because they are worried about not doing it perfectly.

Overall, delaying action or not taking advice is a common coping mechanism for dealing with worry and stress. However, it often makes the problem worse in the long run, as the task or issue continues to loom and causes more stress and anxiety. It’s important to recognize the reasons behind the business problems and work to address them in order to move forward and tackle the issue at hand.

This is something we can help you do!  Call us on 0800 9700539  what have you got to lose!

Mercian Cycles To Go Into Liquidation

Derby based Cycle builder Mercian Cycles has gone into liquidation.  The firm specialised in making high quality steel frames with hand made decorative joinery ("lugs" in bike parlance).The company confirmed thr news to the publication saying: "Mercian Cycles Ltd has ceased to trade, and we have instructed an Insolvency Practitioner to assist us with taking the appropriate steps to place the Company into Creditors' Voluntary Liquidation."Opus Business Advisory Group have been appointed liquidators and said "we will be working closely with the company to help manage a controlled wind down of the business and a smooth transition for stakeholders".The bike company was founded in 1946 and was seen as quite eccentric with its lugs and flamboyant colours.  The firm had quite a cult following in the UK and the USA.However the cycling industry has had a hard time of late due to over capacity following the pandemic when everyone suddenly started to spend money on Bicycles.  Unfortunately, this new found enthusiasm did not last.

Mercian Cycles To Go Into Liquidation

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