The signs of a struggling business in a recession
Do you have a struggling business? Would you benefit from an independent financial review? I have compiled a simple guide to the warning signs which will indicate whether or not your business is struggling and whether you need to pick up the phone and take some free advice. As a director do you have to hand full information about your business. Can you tell me current sales? Do you know how much you owe, and what you need to pay out this month? Do you fire fight, meaning that you go from one problem to another, always having to deal with complaints and issues, rather than strategically planning where the business is moving to next in its cycle. Have you taken money out of the business to fund a personal life style! So many directors think of the business bank account as their own. This is not the case. If you have an overdrawn directors' loan account that you cannot repay. You need to advice as this is potentially an issue for you. Do you dread calls from the bank? Is your overdraft at its limit or continually bumping the ceiling? Do you think that one big order will solve all your problems? How long have you been waiting for that one big order? Have you had cheques returned? Is your facility being reduced? Is all this starting to sound familiar? Then my friend, you have a struggling business, and you can either bury your head in the sand again, or you can pick up the phone and take advice from a professional. Are you failing to pay suppliers on time? Do you fob off creditors with the old line that the cheque is in the post? Do you continually search for new suppliers with new lines of credit? By now you've got the message. Please call an advisor and start to put your business back on track! Information provided by Steve Thatcher of Help With Debt (UK) Limited a total debt solutions company. You can find more information and full contact details at http://www.helpwithdebtuk.com, alternatively email Steve at sthatcher@helpwithdebtuk.com or call on 01162171406. About Author Steve is a qualified solicitor who specialises in debt solutions for businesses and companies alike. From pre-pack administrations to walk through bankruptcys he is always free to talk to. Disclaimer: Article submitters are solely responsible for the content of their articles. ArtiLib can't be held liable for the contents of the articles. Report Abuse | Browse By Category |
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