A quick response is key to a firm’s survival

Blog Insolvency

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If your business is facing financial difficulties it pays to take action at an early stage.

The difference between those firms which survive and those which fail is how they respond to difficulties when they arise.

Gibson Hewitt has an ICAEW guide on our site which provides an introduction to how businesses can identify issues as and when they arise.

While there can be a stigma attached to seeking advice from an insolvency practitioner, it is important not to ignore problems or put off asking for help.

As the introduction makes clear: “Being aware of the dangers from a very early stage and knowing whether they are the start of a long-term decline, or merely going through a short dip, can help owners take the early action, that can save their business.”

Gibson Hewitt has a wealth of experience advising businesses and organisations in financial difficulties. Please note that ICAEW licensed insolvency practitioners have an unrivalled knowledge of business plans and company law – which can make the difference between turnaround and insolvency.