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The Credit Crunch                

The news lately has been full of doom and gloom as we enter a period of global economic difficulties, but it is not all bad news. Although we should now all prepare to weather the current difficulties for a few years, the banking system will eventually repair itself and confidence will return. We are optimistic that many businesses can survive and even prosper during this difficult time with the correct strategy and early action.

We have been keeping a close watch on recent events and analysing the bad economic news, falling stock markets and failing companies. We believe that as many people worry about their businesses, jobs and savings and lose confidence in the banking system our policy makers are being slow to respond effectively to the crisis. Regrettably, in our view the economy is likely to get much worse before it improves, and we suggest that it is essential that you take the time to understand what is really going on and explore the options available to you to protect your businesses and investments. Click here to download our autumn newsletter from our business network in which we have written an article to help make sense of the credit crunch. It explains how we got here, who is to blame, what the credit crunch means to you and what you can do to survive it and finally what is likely to happen next. We have helped a number of clients to survive and avoid insolvency by refinancing, working with creditors, managing their business risks and improving their profitability. Our experience suggests that a lot of businesses that fail would have survived had they sought help earlier and received the correct proactive prompt action. If you have any questions or concerns about how the credit crunch might impact on you or your business and wish to discuss this matter then please contact me for an initial free consultation.

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Business Trouble – Early warning signs

Creditor Advice - including how to avoid bad debts

Economic Outlook - why it matters (published Jan 2003)