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Wednesday, 21 May 2008

Are we looking down the barrel?



We get lots of email or news feeds into our inbox saying this bank has written a squillion $/£ off here and another two squillion $/£ off there. Yet most people we speak to out here in the real world of small to medium sized business are not seeing the banks taking aggressive action against their borrowing facilities or calling in loans. Ok they're not generally allowing new borrowing increases in the main but they are supporting the SME business person.

At this stage its the Crown agencies that seem to be upping the ante to improve their debt collection. Perhaps the Government is short of money? Perhaps the tax man sees a sharp rise in payment defaults? Perhaps people are spreading the cashflow pain to their creditors because banks are not allowing any borrowing increases?

Whatever the answer its apparent that HMRC will be chasing harder still in the next 12 months.

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Many thanks for your comments. If you have a private business problem and you want advice give us a call on 0800 9700 539 or email me at keiths@companyrescue.co.uk. If you are a professional advisor with a troubled client, please suggest they visit www.companyrescue.co.uk or contact me as above.

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