The recent economic climate has been particularly cruel to small business owners. Faced with decreased sales/profit margins and slow paying customers many business owners have fallen behind in payments to their creditors that give rise to commercial debt. This includes suppliers, banks, landlords, etc. Faced with mounting debt the owner may contemplate filing bankruptcy. A.
In order to run a successful business in today’s fast-paced Economy, you have to be Proactive, not Reactive. As per latest metrics of CreditMan – Large number of businesses with serious cash flow problems hits new high – “134,000 UK businesses are struggling to pay their debts when they fall due, the highest figure in the last.