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Coronavirus COVID-19 threat to Business; Advice and Resources
Useful information for business impacted by the Coronavirus pandemic:
And what is Force Majeure and is it as painful as it sounds? Business in the accommodation, hospitality, transport, logistics and education sectors, along with those dependent on exports and imports to and from China, are starting to feel the economic impacts of Coronavirus. According to Insolve Panel members Chris Baskerville and John Morgan.
If you’re in business supplying goods or services to customers, it’s vital you understand Preference Payments, the implications of the Personal Properties Security Act and how the PPSR (when correctly applied) can help. Why? Because The Act applies to all businesses, including yours, and the risks are growing. And because the implications if you do.
If you own a business you probably make near-future plans on a daily basis. However, not many business owners think ahead into the distant future. It might seem irrelevant today, but having a solid exit plan for your business is one of the smartest things that you can do as a business owner.
Actually, to clarify terminology first, a business does not go bankrupt. Individuals become bankrupt and companies become insolvent or go into liquidation. So, if your business is in …
Running a business is stressful and when times get tough it can be easy to ignore the problem and carry on as if nothing is wrong. Acknowledging that your business needs help can be distressing, but what’s worse is looking back and wondering if things would have turned out differently had you acknowledged your problems.
It is sometimes hard to admit that a business that has been trying to make its mark is in financial distress and in a position to not pay off its debts. Sometimes, the downward spiral is so quick and sudden that before long, the company has incurred another bill on top of those that can’t.