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Help and support is available when your business is facing difficulties. Although not fully comprehensive, this page contains a listing of organisations and/or schemes that provide support.
GOV.UK has information on its website on how to deal with financial difficulty.
This guidance includes information on how to avoid insolvency and what your options and obligations are if you do find yourself in financial difficulty.
If you cannot pay your debts, or if your business' debts are greater than the value of its assets, then you are, or your business is, insolvent. If you cannot pay these debts quickly, then your insolvency may lead to bankruptcy or your business being wound up.
Insolvency is a complex and sensitive subject, but there are steps you can take that may help you to manage your cashflow and avoid insolvency. For more information, see the GOV.UK sections on
• how to improve your cashflow
• guide on how to get help and advice about your debt problems
• guide on insolvency
Managing a business can be challenging enough at the best of times but, in this difficult climate, finding business finance and getting practical advice is critical. The GOV.UK website has more details on how to find business finance:
Grants and Government Support
The Business Debtline website is designed to help any business which has cash flow or debt problems. Business Debtline provides free practical advice that is designed to help businesses successfully manage their way through financial difficulties. The Business Debtline also offers a range of FREE fact sheets to give businesses more information on different aspects of debts and arrears.
For more information call 0800 197 60 26 to obtain free confidential advice or go to the website:
Businesses worried about being able to meet tax, National Insurance, VAT or other payments owed to HMRC, or anticipate that payments coming due will cause problems, can call the Business Payment Support Line for help.
For more information call 0845 302 1435 or go to their website:
Business Support Payment Service
If you require help with something in this section, please contact us.