Business Problems and Insolvency Practitioners

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The whole process of insolvency is conducted by licensed Insolvency Practitioners. The Insolvency Practitioner has a responsibility to conduct this process according to strict laws and guidelines and in simple terms has the role of sorting out the company’s affairs on behalf of both the company directors and the company creditors.

A common problem for company directors and sole traders, is to spot when your business becomes insolvent. Often larger jobs and increased workloads can take our minds off the finances whilst we concentrate on getting jobs done.

So when do we need help? Well, we all struggle with cash flow problems from time to time. But it is important to get help as soon as a problem arises. If your business is at the point where liabilities exceed your assets, your company is insolvent. At this point directors can be personally at risk. Often this situation is only detected when it seems things have gone too far, however this is not always the case.

At Real Business Recovery we suggest that you obtain independent advice from ourselves as soon as you detect the first signs of business insolvency as we offer advice only from licensed business insolvency practitioners. A shortfall of cash, unpaid invoices or problems with suppliers can all be triggers that may prompt you into action.

An insolvent business can do a number of things to resolve the situation, and information is given throughout the pages on this website. We can help you to continue to trade, or we can help you to end the business in an orderly and controlled manner through an experienced insolvency practitioner.

It is important not to continue to trade once you realize that your business is insolvent. This is why the next step is to immediately contact us to discuss the options available to you.