smallbusiness.co.uk: Helping your business think big

How to approach insolvency

Mark Wilkinson, of law firm Lee & Priestley, explains the insolvency procedure and the possibility of continuing to trade.

Managing debt

As small and medium-sized businesses consider the impact of interest rate rises, SmallBusiness.co.uk and Alexander Baldock, commercial director of Barclays Business Banking, outline their top tips for managing debt as costs increase.

Dealing with business failure

According to the latest figures released by business analyst and information service Experian, corporate insolvencies in the UK have fallen by 8.8 per cent during the first three months of 2007 compared to the same period the previous year. This guide should help to clarify the key distinction between an IVA and bankruptcy.

Debt advice for small businesses

Many small businesses operate on a very tight budget. Figures published by the Insolvency Service during 2005 show that 12,893 companies went into liquidation and 10,839 self-employed people were declared bankrupt. The need for debt advice for small businesses has never before been in such demand.

How to avoid insolvency

It’s a grim fact that up to 80 per cent of new businesses launched each year fail, most within the first five years of operation. Once cash flow has dried up and creditors start knocking on the door, the most likely action taken by UK entrepreneurs is to declare bankruptcy.