Remedy For Business Ltd - Business Issues Vol 2

Hello, my name is Ian Perry from Remedy For Business Ltd, and I’d like to welcome you to the second video in our “Business Issues” series. A growing number of companies that have survived the recession are now having problems. Today we will look at the tell-tale warning signs that a business is in trouble. • There is insufficient or inadequate up-to-date financial & operational information available about the performance of the business; • Tax payments to HMRC are falling behind and legal proceedings are being threatened; • Customers are late paying invoices; • Overheads are increasing faster than profits and cash is under pressure; • Suppliers are being paid late and are withholding goods; • The bank won’t extend current facilities; • Staff turnover is increasing; • Key customers are being consistently lost; • The bank has started bouncing cheques and direct debits; • The business owners are so busy they can’t get out of the office; • The decision making is chaotic and the business constantly runs in a state of crisis. If you recognise any of these warning signs you need to act quickly as the later you leave corrective action the harder it becomes to rectify the situation. It’s essential to engage with creditors particularly HMRC and put a recovery plan in place. Please contact me on 01473 310833 to discuss any problems you might have and how to overcome them. Good luck with talking the warning signs in your business.

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