The Institute of Chartered Accountants in England & Wales has recently published its Business Confidence Index for the second quarter of 2019. And pretty grim reading it is.
The number of insolvencies of individuals in the year was 115,299, continuing a steady year-on-year rise which began in 2015. This gives the highest annual figure since 2011.
The Insolvency Services has recently published the official insolvency statistics for 2018. As widely reported, pretty sorry reading they make. Here are our thoughts on how 2019 may look.
How do you spot the warning signs of a failing business?
Even companies with the most rigorous credit control procedures run the risk of incurring a bad debt should a customer fail. For smaller companies, incurring a significant bad debt can result in the end of the business itself.
When a company requires corporate recovery advice or enters the insolvency process, it shouldn’t necessarily mean the end of the business. In many instances, the company remains viable and could be saved through a process of restructuring.