My Insolvency

'Tis the season to be jolly... and financially sound! 🎄 Don't let cash flow woes dampen your holiday cheer. My Insolvency is here to help you find solutions and emerge stronger. 📩 PM us to find out how we can help. #insolvency #debt #businesssupport

Reasons why cash flow might suffer: ✔️ Lack of credit control ✔️ Lack of funding ✔️ Too much focus on sales rather than cash ✔️ Inadequate or poor forecasting ✔️ Failure to have key performance indicators ✔️ Poor management decisions Remember: cash flow problems can be a warning sign of deeper issues. If your business is experiencing any of these, don't wait to seek help. #insolvency #businesssupport #debt

Running a business is tough, but knowing the signs of potential insolvency can help you stay ahead of the curve. Here are 3 key warning signs: ✔️ Late payments: Regularly falling behind on payments to creditors or HMRC can indicate cash flow issues. ✔️ Debt burden: If your company's liabilities outweigh the value of your assets, insolvency might be a risk. ✔️ Legal action: A County Court Judgement (CCJ) or unpaid statutory demands are serious warnings. Facing any of these? Don't wait! My Insolvency can help you navigate financial challenges and keep your business afloat. #insolvency #debt #businesssupport

FAQ: Our business has received a winding up petition, what do we do? The key to anything like this is to act fast! If you have received a winding up petition, you only have 7 days to respond to the petition after which the petition may be advertised in the London Gazette. If you've received a petition, get in contact with our team ASAP to see how we can help you. #insolvency #businesssupport #debt

❌ Myth: Insolvency is a sign of personal failure. ✔️ Fact: Financial difficulties can happen to anyone, often due to factors outside your control – like economic downturns or unexpected expenses. Remember: Insolvency is a financial situation, not a reflection of your character or abilities. Seeking professional help and taking action to address your situation shows responsibility and resilience, not failure. #insolvency #businessadvice #debt

Reasons why cash flow might suffer: ✔️ Lack of credit control ✔️ Lack of funding ✔️ Too much focus on sales rather than cash ✔️ Inadequate or poor forecasting ✔️ Failure to have key performance indicators ✔️ Poor management decisions Remember: cash flow problems can be a warning sign of deeper issues. If your business is experiencing any of these, don't wait to seek help. #insolvency #debt #businesssupport

Insolvency isn't a permanent state. It's an opportunity to take stock, learn from past mistakes, and develop a plan for moving forward. 📩 PM us to find out how My Insolvency can help you with this. #insolvency #debt #businesssupport

Many businesses only address financial issues when it's a crisis. But by then, it might be too late! Here at My Insolvency, we can help you identify warning signs early. Our blog post shares 3 key tests to see if your company might be at risk: ✅ Cash Flow Test ✅ Creditor Pressures Test ✅ Ceiling Borrowing Test Read our blog for the full details: https://lnkd.in/egAz9Ei3 #insolvency #debt #businesssupport

💡 Ask My Insolvency... What does dissolution mean? Dissolving a business refers to the formal process of closing a limited company and removing it from the official register at Companies House. Once this happens, the company ceases to legally exist. There are several reasons why a company might choose to dissolve, such as the owners moving on or a business no longer being profitable. #debt #insolvency #businesssupport

Some bittersweet news from last month: UK insolvencies are rising, but signs of recovery and growth are showing. "Government figures show 2,191 company insolvencies across England and Wales in July, 16% higher than the same month in 2023 and more than the average recorded in the pre-Covid period. However, whilst we expect insolvencies to remain at elevated levels for some time to come, there are plenty of positives in the economy that will help stronger companies to thrive." Read more here: https://lnkd.in/etisHDmr #insolvency #debt #businesssupport