The Prime Minister’s announcement of a roadmap to normality brought hope and a profound sense of relief to all of us as people, as family members, Mums, Dads and members of our local communities. But what about as business owners, company directors and members of the business community?
The success of the UK’s vaccination programme has been, perhaps, the first really good news for over a year. Now we can, with reasonable certainty, begin to look forward to family gatherings, weddings, a couple of pints and a pub lunch, or even a holiday…?
However, the ending of restrictions on our daily lives must inevitably also signal the beginning of the end of government support for our businesses.
We have always known that such remarkable levels of business support as we have experienced throughout 2020 could not be sustained forever. Not only will their eventual withdrawal be painful, but it is likely to reveal that many UK businesses have underlying weaknesses that have so far been masked by loans, tax deferrals and the suspension of action to recover debts or to evict.
The insolvency profession, which can provide swift access to the tools and procedures which business owners and directors may need in the future, has experienced a remarkably quiet 12 months, but is now gearing up to offer every assistance to struggling businesses.
As always, we would urge anyone needing help and advice to act promptly. We are available to provide FREE, NO OBLIGATION advice at your convenience.
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Established in 2018, the directors at Restart BTi have over 50 years of experience to assist companies, business owners and individuals with expert advice and tailored solutions when facing financial difficulties.