Business Insights

Once the decision is made that a struggling business must enter liquidation, the process can be surprisingly quick and always represents a large degree of closure for those involved.

With recent figures from Experian revealing that access to trade credit for SMEs has hit an all-time low (falling from 10% in 2008 to a current figure of 6.1%), SMEs may find themselves increasingly struggling to manage their finances.

The government is making yet another attempt to do what they can to facilitate UK SMEs as they attempt to drive the economy forward.

In most cases, businesses do not just give up the ghost and collapse spectacularly and instantaneously but, instead, deteriorate over time, eventually reaching a point where it becomes obvious that they can’t continue. This means that there are usually a great number of warning signs that should indicate something is wrong to managers of any business. These indicators give those in control an opportunity to find and implement a solution, reversing the fortunes of the business where possible. Business recovery specialists such as Moorfields can offer sustainable and practical assistance in dealing with everyone from creditors and financiers in this case.

A winter that has been marked by heavy snow and blizzards in some parts of the country has had a devastating impact on the UK’s agricultural sector.