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

Monday, 10 February 2014

Bad weather affecting businesses in the South West

It’s been increasingly difficult for businesses over the last month in the South West, with bad storms and flooding destroying power and transport links all over. Small businesses are going to be hit hard with the knock on effect, especially the tourism and leisure sectors.

The power is out for many homes and businesses across the region and transport links have been cut off from the South and South East in Devon. At one point 44,000 customers of Western Power were left without electricity.

Chair of Local Enterprise Partnership for Cornwall and Isles of Scilly, Chris Pomfret, stressed that 22,000 businesses in Cornwall need transport links to trade to reach their suppliers and customers. He told BBC Radio 4, “It is essential for business owners to be able to travel to London and hub airports such as Gatwick to maintain the international side of their work”.

Managing Director of St Austell Brewery, James Staughton, also told the radio channel, “business needs certainty and it needs certain transport infrastructure to be able to thrive and survive”.

Network Rail and the Government need to take a good look at the transport links to Cornwall and Devon so future problems like this won’t happen.  Pomfret kept the situation positive in the discussion on BBC Radio 4, saying, “We are very resilient and we are very open for business and I’m sure we will find a way around it.”

We can hope the weather improves and future successful summer trading outweighs the miserable winter we’ve had so far. Whilst the weather is out of our control, you may be able to find financial support from the local authority. Creditors may also be supportive of the situation so it’s best to stay in touch and keep them updated on what’s going on.

If the bad weather is setting your business back, you can talk to us free of charge and use our website to look at ways to cut costs or improve cashflow. You can use our free cashflow template.

If debts have built up too much, it may be worth considering talking to us at Company Rescue. If the business is viable, formal, or informal deals, with creditors can allow you to spread debt payments over a year or more and can protect you against any legal actions.

Advice from Cornwall's Council:
Help for businesses affected by flooding - http://www.cornwall.gov.uk/default.aspx?page=33000

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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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