Well over 10,000 small businesses start up every year in the UK. Yet some 80 per cent of these fold in their first two or three years of operation.
Financial failure is the most common reason for this.
• What steps can a small business take to minimise the risk of creditors defaulting
• What do concepts such as directors' liabilities and personal guarantees mean in practice?
• How can a company that becomes insolvent avoid liquidation?
• How can an insolvent sole-trader/partnership avoid bankruptcy?
• How does Receivership work?
• What is a Voluntary Arrangement?
This new book answers all these questions and examines the whole area of insolvency in the light of the insolvency Act 1986. its main arguement is that alternatives to liquidation or bankruptcy are available to companies and individuals in financial trouble. Other forms of financial reconstruction may help the business to resolve its problems and start afresh without a continuing burden of debt.
Insolvency in Business will be welcomed by all sole traders and directors of limited companies, especially those that are starting up.
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