If you like things Retro it’s difficult to see what else to add to the mix in the UK Economy at the moment other than double-digit interest rates and no membership of the European Union if you fancy a taste of the 1970s. Not since the time of the Conservative government of the mid-1970s have we had such a heady mix of political turmoil, party-political in-fighting, European dis-harmony and economic disruption. The sad news today of British Steel’s decline into insolvency was an ever-present theme of the late 20th Century and the blame squarely placed on the rise of the [...]
Peer to Peer lending can take a variety of forms but it is basically a mechanism for those with accessible wealth to lend to others with less accessible wealth. The lenders may look like a bank, they may look like a syndicate or they may be individuals but essentially, they act like a bank (without the clearing or cashiering function) and without the same regulatory framework.
According to The Money Saving Expert’s guide to mental health and debt 40% of people who have had mental health problems also have severe or crisis debts. Often, the reason that people get into debt is not due to careless spending, it is due to lifestyle reasons such as not having enough income to cover outgoings, struggling to organise finances, and major life changes such as losing your job or losing a loved one. Although very common, the link between debt and mental health is not often discussed. Just as debt can lead to issues with mental health, existing mental health [...]
It is a familiar feeling for many business owners, discovering a tax bill is due and realising you don’t have enough working capital set aside to pay for it. Lack of working capital is a good reason to borrow money, but only if it can help you grow your business.
Clovemead Limited, a highly regarded and familiar name in the North West with a significant national presence since 1980, went into Administration on Monday 11 March. The firm appointed Partners, Allan Cadman and Charles Brook, as Joint Administrators. The independent contracting specialist company with expertise across construction, minor works, fuel systems and signage has a reputation for quality and safety, with each division working seamlessly across various disciplines to provide clients in a variety of highly specialised, secure and regulated environments with fully managed solutions. Operating out of premises in Warrington and Widnes the company employs over 50 staff and [...]
According to recent research carried out by the SME advice service, Business Debtline, small business owners and those self-employed are experiencing high levels of debt. There is an increasing concern for this, as these people make up 15% of the country’s total employed population and the tendency for more and more workers to become self-employed is leaving thousands of people in debt.
It is difficult to imagine any self-respecting town not having an M&S on its High Street. Whilst M&S are taking steps to improve their trading performance on a national basis, there is something of an indictment of any reasonably sized conurbation if it can’t sustain their model.
Directors are prohibited from utilising the same or similar business name for five years following a liquidation, subject to certain exceptions which can be found in insolvency legislation.
A company is generally considered insolvent when it can't pay its bills as and when they fall due or if its liabilities are greater than the value of all its assets. Legally, the directors of a company are required to act in the best interests of its creditors.
If you ask us, one of the fundamental aspects of life is learning to manage your finances, and can never be taught too young. But this needs to be provided in a manner that engages the youth and shows both the very positives in being prudent and the extreme difficulties that can be caused by being reckless.