Why are large companies losing the bankruptcy battle?
Business bankruptcies are nothing new. They occur for a variety of reasons, some, with hindsight, entirely avoidable, some just plain, old-fashioned bad luck. What is new, or at least, what has not been seen since 2013, is the level of business bankruptcies and what is making headlines is their size. With Toys R Us and […]
What exactly is a debt problem and how do you manage it?
Debt, like death and taxes, it’s a fact of life for many people. Relatively few people could buy houses without it, increasingly young people rely on it to fund their education and many businesses use it to speed up their growth. At the same time however, debt can be a real problem both for borrowers […]
Personal insolvencies – a sign of the new age of employment
According to government statistics, unemployment is low, but personal insolvencies are on the rise and are now at a 10-year high. Understanding this situation, requires understanding the statistics which underpin it. Unemployment, employment and the grey zone in between Unemployment statistics are based on a “labour force survey”, which is carried out every three months […]
The Reality of Being Your Own Financial Department
Generally speaking, running your own business is either absolutely for you or absolutely not. These days, it’s probably fairly well understood that being your own boss has its advantages and disadvantages, but what may be harder for people to understand is the challenges inherent in being both chief cook and bottle washer or, at least, […]
Dealing With a Debt Hangover
If December is a time for celebrations then January is often a time for hangovers – and debt hangovers. Neither of them are pleasant but, overall, the regular sort can be shorter, less painful and easier to fix (or ride out) than their debt counterparts. In fact, while gritting your teeth and ignoring standard hangovers […]
Getting Your Business Out of Debt
Debt of one sort or another is almost a fact of life for young businesses. Many businesses need some level of funding to get of the ground and that money has to come from somewhere. Even if the founders provide the initial funds themselves, then it is still, for all practical purposes, debt, since the […]
Carillion Plc – How will you and your business be affected?
This week we have seen our tv’s and social media flooded with news of the liquidation of Carillion Plc. It seems everyone has an opinion of what went wrong and what can be done to stop this happening again. But, what about the 20,000 staff and families directly impacted by the liquidation. And the undetermined […]
Should you cut up your credit cards?
Debit cards are arguably one of the 21st century’s greatest conveniences. Maybe, at some point in time, they’ll lose ground to mobile phone payment applications or some yet-to-be-invented option, but for now, the ability to pay with available funds but without the need to carry cash is surely a benefit on safety grounds if nothing […]
The Importance of Insolvency Practicioners
In poker, it’s said that one of the skills which separates good players from weak players is that the former recognise when their hand is beaten and it’s time to fold it. Much the same comment could be made of the need for company directors to be ready to accept that it’s time to fold […]
What 2017 has meant for Debt
Debt has long been if not a hot political topic in the UK, then at least one which is generally on simmer. A slew of high-profile companies running into trouble, Brexit and the long-awaited hike in interest rates has turned up the heat on the issue. Here, therefore, is a quick overview of the key […]