Insolvency

Articles, guides, and news on insolvency issues for UK small businesses.

News

Number of small businesses in distress triple pre-Covid level

Nearly 135,000 businesses in trouble with accountancy firm Mazars warning of ‘calm before the storm’.

Government Grants

Half a million businesses at risk of collapse without more support

9m jobs could disappear if 600,000 stricken businesses are allowed to go under without more Covid pandemic financial help

Accounting

Redtape simplified for small business seeking CVA protection

New standard form offers SMEs same protection from creditors as big companies who trigger Company Voluntary Arrangements (CVAs)

Legal advice

How going insolvent could be the best way to save your business

How you can save your small business by becoming insolvent. A step-by-step guide to going into administration versus a CVA.

News

Why the Government’s new insolvency bill is bad news for sole traders

Anti-lockdown campaigner Simon Dolan believes the trickle-down effect of the Government’s new insolvency bill will end up hurting sole traders the most.

News

Half a million small businesses in financial distress

One in four businesses in Britain has already shut its doors, according to latest Office for National Statistics survey

Business management

How to wind up a small business – a step-by-step guide

With two out of five SMEs already closed, and many more contemplating ruin, insolvency practitioner John Bell offers to step-by-step guide to winding up your small business

News

Two in five small businesses face closure because of coronavirus

39% of small and medium-sized businesses have either already closed down temporarily or are planning to do so within next month.

Accounting

5 steps to take if a company you supply goes into administration

There are steps you can take if you suspect a company you supply is heading into administration and owes you money, says Rebecca Dunne

News

Small business insolvency rises by 6pc in first quarter

4,187 companies become insolvent between January and March this year, according to The Insolvency Service, while 484,000 UK businesses are in significant distress

Business management

Insolvency: government initiatives have failed small businesses

Insolvency has reached a near six-year high and it's hitting small businesses hard. Mark Gardner from Excello Law, explains how the government has failed.

News