Snow or sun, how can you protect your seasonal business against insolvency?

Snow or sun, how can you protect your seasonal business against insolvency?

It’s been the hottest summer on record and this has affected the UK economy in several different ways. For some businesses, it’s been a pleasure to soak up the sun and the additional revenue. For example, pubs with beer gardens will certainly have enjoyed a busy bar. Ice cream vendors, air conditioning companies, garden product […]

How can the traditional Estate Agency survive Tenant Fee bans and Online competition?

How can the traditional Estate Agency survive Tenant Fee bans and Online competition?

It’s a challenging time for the traditional high-street estate agency, and we are unfortunately seeing more calls for help from agencies facing financial distress as they try to keep up with a volatile property market and changes in legislation, plus the threat of online-only property sale sites such as Purple Bricks. The latest statistics from […]

Director Personal Guarantees – good, or bad for business?

How can the traditional Estate Agency survive Tenant Fee bans and Online competition?

What is a Personal Guarantee? Lenders, suppliers and landlords may ask a business owner or Director for a Personal Guarantee before agreeing to lend to the business, rent or lease premises to the business, or supply goods on a credit account. If there is more than one owner or Director, all parties concerned will be […]

Five vitally important things to review in your finance regime

Five vitally important things to review in your finance regime

We all know that keeping good financial records is key to business success. Bookkeeping, profit & loss forecasting and cash-flow analysis are all fundamental aspects of running a business that are taught on so many Start-Up courses, College Courses and University Modules. Yet as a business grows, gets busier and becomes more demanding, it’s not […]

Dealing with financial distress within your Business?

Dealing with financial distress within your Business?

A high percentage of businesses fail, and a common reason for failure is financial mismanagement, which causes insolvency. Keeping on top of cash flow can be a challenge; and poor cash flow can quickly lead to financial distress.  R2B Business Solutions have created a 5-point plan, that can help you work your way out of […]

My company has received a Winding Up Petition, what happens now?

My company has received a Winding Up Petition, what happens now?

If your Limited Company has been struggling to pay its debts, you owe more than £750 and you have been unable to negotiate with creditors, you may not be surprised to be in receipt of a Winding Up Petition from the court.  What is a Winding Up Petition? A Winding Up Petition is an official […]

Is my business insolvent? What are my responsibilities if it is?

Is my business insolvent? What are my responsibilities if it is?

If you’re the Director of a Limited Company that is struggling to meet its liabilities when they fall due, you have a duty of care and a responsibility to consider whether you need to stop trading.  It isn’t viable to continue accruing further business debts and late payments charges. Continuing to avoid payment of debts […]

It happens – Business Interruption, are you prepared?

It happens – Business Interruption, are you prepared?

As business owners, we understand the importance of planning – after all “failing to plan is planning to fail”! The very basic plans that small businesses and their owners usually have in place are a business plan forecasting cashflow, profit and loss, and some ideas for a growth strategy. A common mistake in business planning […]

It happens – Dealing with the death of a Director or Key Person

It happens – Dealing with the death of a Director or Key Person

As sad as it is, there is one certainty in life and business; we will all die. In an ideal world, each of us would live a long and healthy life during which we complete all our career and business goals and live on to enjoy retirement; either having resigned as an employee or Director, […]

What are my options for closing my insolvent business?

What are my options for closing my insolvent business?

If your business has become insolvent and the decision has been made to close, then there are certain obligations that you should be aware of. The way you close your Limited Company will depend on the amount of assets (including cash in the bank) that your company has and also the amount of debt. Below […]