0800 056 1059
(Free, confidential advice)
The pandemic has created a level of personal and financial stress for company directors not seen on a scale since the credit crunch of more than a decade ago. Our research shows that 9,414 in the Liverpool City region are currently in significant financial distress– a 27% increase over the past 12 months.
Knowsley itself sees almost 500 firms (475) in significant financial distress. Some sectors of the local economy in Knowsley have been more affected than others with three key sectors making up nearly half of the firms in trouble (construction, real estate and support services) at 45% of the total.
In the vast majority of cases, the directors of these companies will have already done all they can in terms of accessing the variety of Government support initiatives to support their business through the worst economic slump in history. However, we know that you might still be worried about what lies in store for the remainder of 2021.
It’s important to remember that proactive steps can be made by business owners to ride out the storm ahead as margins get tighter and creditors get restless.
When all restructuring and funding options – and disposal options – have been explored it maybe that a formal insolvency procedure is the next step. These options include Administration, Company Voluntary Arrangement, Compulsory Liquidation, Creditors’ Voluntary Liquidation, and (for solvent companies) Members’ Voluntary Liquidation.
If you’re in this situation it is best to act swiftly and get professional advice. Whatever the situation, it can be daunting to discuss all these kinds of business issues.
That’s the reason Begbies Traynor and Knowsley Chamber have partnered together to launch a new Directors Helpline
The new, free and confidential Directors Advice Line (0800 056 1059) enables company directors to quickly access guidance to resolve issues they face in repaying bounce-back loans, deferred tax bills and impatient creditors.
Business owners in Knowsley can quickly tap into expert knowledge and equip themselves with specific strategies and tactics all related to helping their business survive in 2021.
The free Directors Advice Line enables business owners in Knowsley to tap into expert knowledge and equip company directors with specific strategies and tactics to help their business survive during a challenging business environment for all sectors.
If you run a business in Knowsley and you need fast, confidential and expert advice on proactive steps to take to protect your business in 2021 – call the confidential hotline on 0800 056 1059.