Please visit https://www.companyrescue.co.uk/ for confidential help and insolvency advice or email keiths@ksagroup.co.uk

Wednesday, 17 November 2010

Christmas. Are you prepared?

Unfortunately, Christmas can be a difficult time for struggling businesses. Fixed costs are still there and wages have to be paid at the end of December. The rent, that if payable quarterly in advance, is due on Christmas Day. If you haven't negotiated with your landlord for monthly payments of rent then perhaps think about it now.

Some customers who are a bit slow at paying might think "I might wait until after Christmas to pay that invoice!" Factories are not producing for a couple of weeks so there may be cashflow pressures.

The recent poor weather has not helped businesses, especially if you have a debtor book to collect. One client we have spoken to today has had to drive around and collect cheques in person from customers, as five of his staff have been unable to get to work!

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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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