For help and advice contact Sheffield 0114 2859500 or Rotherham 01709 331300
Don’t let Brexit and business fears make it a Black Christmas!
Fear over Brexit and months of continued financial uncertainty mean that for many businesses Christmas might not be so merry as in previous years, but the good news is that in many cases we can help struggling businesses to survive.
The Christmas season can put real strain on many businesses. It is true that a number of small businesses will struggle through the holiday period, paying staff through the Christmas shutdown and also discovering that some businesses will use the Christmas period as an excuse not to pay outstanding bills.
For a company already facing a crisis, though, that delay can be critical and with tax billl and suppliers to be paid by the end of the month, it might seem that insolvency is the only possible action. And in addition to all the usual seasonal problems we also now have uncertainty over Brexit and the fear of interest rates creeping up.
The latest set of insolvency statistics actually show an increase in commercial insolvencies of 15 per cent on the previous quarter and also on the same quarter for last year, a complete reversal of the downward trend that we have been seeing since 2009. The reality is that businesses are concerned about the future, nobody is quite sure where Brexit is going to take us and so people are slowing investment, not making major purchases and if they do have cash available they would rather sit on it instead of spending on something they might regret in the long term.
Is your business facing difficult times? We can help
For businesses fearing the impact of a year-end slump, there are steps that could be taken to maximise the chance of survival. Our clients often come to us thinking they are at the end of the line whereas actually we have a range of options that we can utilise to help people to decide how best to deal with their business and financial problems.
At Graywoods we pride ourselves on helping businesses to survive and to turn around. It’s like Intensive Care for companies and we will have the course of treatment to help most businesses to continue functioning healthily into the future.
To find out how we can help your business survive and thrive, call us today on 0114 285 9500. We can help.