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Business debt help

Submitted by Paolo on Fri, 2006-08-11 10:34.

It's never pleasent when you have to seek business debt help. The first thing you have to consider though, is that you're by no means alone.

A high percentage of businesses need to secure professional debt help at some stage. It can take just a few small mistakes, false projections or bad decisions to plunge a company into financial difficulty. Regardless of how your business has found itself in debt, it's imperative that you consider your options and take swift action.

Many of the consumer debt solutions available also apply to businesses so make sure you explore every avenue when looking to reduce your companies debt. For instance if you have bills from multiple suppliers, you could consider taking out a debt consolidation loan.

If your business is in debt and you're considering a 'quick-fix' solution like a loan, it's important to consider whether that will get you back on track and not just solve your immediate problems. Taking out loans to pay a few bills can end up costing you more and plunging your business into even more debt.

If your business is in serious debt, then it's imperative that you take decisive action. It can be difficult to know exactly when to push the emergency button, but the very least you can do is get skilled debt advice and discover what options you actually have.

Businesses with substantial debts could consider a company voluntary arrangment, which can significantly reduce the amount of debt you have. This can be a complicated process though and you'll need to contact skilled professionals to help you understand the procedure.

However serious your financial problems are we've got many sources of business debt help to utilise.

 

Businesses should save to avoid debt

According to Standard Life, the majority of UK businesses don't make use of business savings accounts which will make the most of their money in difficult economic conditions.

Business debts added to by inflation

Research from More Than has found that small businesses are being hit even harder with debt problems, as they have to deal with inflation of up to 10%, whi

Businesses suffering increased debt from bank charges

UK businesses that are already struggling with debt problems, are having to cope with increased bank charges and tighter lending policies, according to Camb

Small business owners risk health to avoid debt

Entrepreneurs from small to medium sized businesses are working harder than ever to avoid debt problems, even if it means risking their health.

Debt doesn't stop chocolate addicts

Despite the credit crunch and the increasing debt problems the UK is experiencing, more people are splashing out on chocolate to ease their concerns.

EDF plunge consumers into further debt

EDF Energy have been criticised for increasing the debt problems of their customers by hiking their gas and electricity prices at the worst possible time.<

Long term debt more likely from middle age

According to new research from Fool.co.uk, earning potential drops after 40, meaning people heading into middle age with debt problems will find it hardest

Milton Keynes businesses most likely to slip into debt

Small businesses in Milton Keynes are more likely to slip into debt problems than any other city outside of London, according to research from Alliance and Leiceste

Small businesses work through bank holidays

Many small business owners in the UK will not take the day off over the bank holiday weekend as they attempt to improve their financial situation and avoid debt problem

Business debt a growing problem in Scotland

Many businesses in Scotland are struggling with massive debts which could force them to go under in the coming months, according to a report from accountan

Long hours need to avoid business debt

Young people considering starting up their own business are being warned that they must be prepared to make sacrifices and work long hours in order to avoid de

Small businesses must save to avoid debt

It's essential for small businesses to put money aside for the times when they might struggle with debt according to Alliance and Leicester.

Businesses must risk debt to succeed

Small businesses and entrepreneurs must take chances and risk getting into debt if they want to succeed, according to research from the Abbey.

Budget offers small businesses debt help

Despite the 2008 budget being somewhat of an anti-climax according to many financial analysts, small businesses are set to benefit significantly with many getting some much needed

Businesses want debt help from the budget

Struggling UK businesses are pleading with the government to use the upcoming budget to make British companies more attractive investements and less likely to struggle with

Small businesses worry about budget

Small businesses are apprehensive about the forthcoming budget from Alistair Darling, fearing it might increase their debt problems by cranking up the tax

Single women work harder to get avoid debt

Single women in the UK do more unpaid overtime that anyone else, hoping to improve their position within a company, earn more money and stay out of debt.

Businesses should use cheques to avoid debt

Small and medium size businesses should pay for more things with cheques to balance their finances better and avoid debt problems.

Businesses need to help those without bank accounts

Not enough businesses in the UK offer cash options to pay for their services, leaving people without bank accounts in the cold.

Landlords urged to get insurance

Landlords up and down the UK need to consider getting better insurance cover or risk being thrown into debt should the worst happen.

Inflation set to be a big problem in 2008

Consumers and businesses experiencing debt problems will be hoping that the predicted inflation figures for 2008 aren't as high

Poor health does mean poor finances

The amount of personal debt in the UK has been closely linked to poor health for the first time.

New research from Standard life has shown that for people missing substantial amounts of time off work - the cost was on average £5,320 which only served to add to many people's personal debt.

Business Debt can lead to ill-health

A report by debt help site, the Debt Counsellors has revealed that business debt can lead to health problems.

In their annual UK debt survey, 59% of people seeking help for business debt said their financial difficulties have caused them some form of ill-health.

Business Debt findings

A report by a high profile debt help company has revealed some of the reasons behind business debt.

The Debt Counsellors Annual Debt Survey found that 18% of businesses blamed expanding too quickly, and the same percentage cited costs getting out of control. 

Business debt help site offers solution

A business debt help site has launched a 'solution finder' tool that helps companies find the correct solution to their financial problem.