Help for Directors

All businesses face the occasional financial crisis but when they become a critical problem you need to know exactly where you stand. In our help for directors section, you will find specific information for answering your questions around if you are insolvent, what you need to do if you are and how it will affect you.

Creditors Voluntary Liquidation

What is known as Creditors Voluntary Liquidation is the process that most businesses must go through if they are insolvent. It can be a difficult time for everyone involved, so we have created this special section of our site to give you the important facts about CVLs in a clear and down to earth way so you can see where you stand.

Members Voluntary Liquidation

This is when your company is still solvent, but you (and your fellow directors) decide it is time to call it a day and retire or move on to the next stage of your lives.  With an MVL, you will release the assets and use these funds to pay off the creditors before returning the remaining funds to the shareholders.

Credit Control & Debt Collection

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Credit Control & Debt Collection

Why cash flow matters

Cash flow is critical to every company. Even if your company isn’t in trouble, getting the cash coming in more quickly will play a critical part.

Add up the total amount that you’re owed.  Imagine the difference if that sum were paid into your bank account tomorrow.  What difference would that make to your business? That may be an unrealistic goal, but you can see the almost immediate impact of the financial shackles falling away? You’d soon be free to pay your own debts and invest in taking the business forward.

How we work

Our experience and know-how enable us to introduce new ways of working that will give you a considerably improved cash position.

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Business Restructuring

One answer to rescue a struggling business is to restructure its debts, perhaps by selling off unnecessary assets. Whenever possible, our goal is to ... more

Latest Blog

When they were launched, the Bounce Back Loans were a unique event. No security needed, no personal guarantees and just a handful of rules. Now, as the pandemic dust finally settles, some Directors are concerned about whether the BBL will turn out to be more a curse than a blessing if they are facing insolvency.

You have probably seen various stories in the press about Directors of businesses being caught out because they were less than honest with their BBL ... more

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Improve your cash flow with our Credit Control and Debt Collection service. We’re here to help with clear, straightforward guidance.

Call us on 0116 2325117 (Leicester), 01926 671891 (Warwick), 02476 017639 (Coventry), 01604 263179 (Northampton) or email us on info@smartbusinessrecovery.co.uk