The number of UK businesses that have entered administration has risen in the months following the European Referendum. 2016 figures saw a reversal in a six-year trend that that had seen insolvency figures decrease. The figures reflect the uncertainty that is currently felt in the political and economic environments as the UK heads towards Brexit talks with the EU. Numbers in the UK, for example, rose to 1,174 in 2016 which contrasts with the 15-year low of 1,111 in 2015.
Expert insolvency advice
As we move into 2017, businesses continue to be wary of the impact that Brexit could have on the economy. If you’re a business owner or financial director that is concerned about the effect of Brexit on your business, The Insolvency Experts can help. The Insolvency Experts provide a range of debt solutions to businesses of all sizes, helping you to choose the right course of action. We have extensive experience supporting businesses that are concerned about their financial position. The uncertainty surrounding Brexit negotiations, and what they mean for each specific industry, looks set to continue for the foreseeable future. To ensure that your business continues to succeed during this period, it is important for you to make sure that cash flow problems are avoided and credit control procedures are as efficient as possible. Whatever financial difficulty your business may be facing, it is important to act quickly and face these issues, rather than ignore them. The Insolvency Experts can ease some of the burden that you may feel, and help guide your business through a difficult period.
Get in touch with The Insolvency Experts
To receive professional business financial advice, please feel free to speak to an experienced Insolvency Practitioner today. Contact The Insolvency Experts online or call us directly on 0300 303 8284.