{"id":625,"date":"2012-06-19T15:37:05","date_gmt":"2012-06-19T15:37:05","guid":{"rendered":"http:\/\/my-brains.co.uk\/jackross\/jack-ross-news\/?p=625"},"modified":"2012-06-19T15:37:05","modified_gmt":"2012-06-19T15:37:05","slug":"business-health-check-minimising-the-risk-of-insolvency","status":"publish","type":"post","link":"https:\/\/my-brains.co.uk\/jackross\/business-health-check-minimising-the-risk-of-insolvency\/","title":{"rendered":"Business health check \u2013 minimising the risk of insolvency"},"content":{"rendered":"<p>Figures from the Insolvency Service last month indicated that the number of company insolvencies increased in the first quarter of 2012, with more than 4,000 firm liquidations. Despite the number of personal insolvencies decreasing, it is claimed that most business insolvencies occur as a result of management missing key indicators.<\/p>\n<p>Impending problems which could lead to insolvency include:<\/p>\n<ul>\n<li>Businesses taking longer than six weeks to collect payment from debtors<\/li>\n<li>Increasing credit to, and working with, key debtors<\/li>\n<li>A growing amount of work-in-progress which is not billed on time<\/li>\n<li>A shrinking\/reducing bank balance<\/li>\n<li>Little control over, or knowledge about, costs<\/li>\n<li>Rising stock levels but static sales<\/li>\n<li>Being involved in contract disputes<\/li>\n<li>Late payments (more than a month) to HMRC.<\/li>\n<\/ul>\n<p>In many instances, these problems can be rectified, but early intervention is paramount. This could include an immediate cash management plan and a recovery plan, both of which will build confidence with stakeholders such as banks and suppliers who need to be reassured you are taking appropriate measures.<\/p>\n<p>Of course, best practice would be to implement preventative measures from the outset. This could include creating a business plan, regular account audits, professional management reviews, performance projections and cash flow forecasts and closing monitoring costs as well as sales. These are all aspects in which we can assist.<\/p>\n<p><em>We can help you minimise the risk against business insolvency. Please contact us to see how we can help.\u00a0<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Figures from the Insolvency Service last month indicated that the number of company insolvencies increased in the first quarter of 2012, with more than 4,000 firm liquidations. Despite the number of personal insolvencies decreasing, it is claimed that most business insolvencies occur as a result of management missing key indicators. Impending problems which could lead&hellip;&nbsp;<a href=\"https:\/\/my-brains.co.uk\/jackross\/business-health-check-minimising-the-risk-of-insolvency\/\" class=\"\" rel=\"bookmark\">Read More &raquo;<span class=\"screen-reader-text\">Business health check \u2013 minimising the risk of insolvency<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"neve_meta_sidebar":"","neve_meta_container":"","neve_meta_enable_content_width":"","neve_meta_content_width":0,"neve_meta_title_alignment":"","neve_meta_author_avatar":"","neve_post_elements_order":"","neve_meta_disable_header":"","neve_meta_disable_footer":"","neve_meta_disable_title":"","neve_meta_reading_time":""},"categories":[20],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.8.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Business health check \u2013 minimising the risk of insolvency - Manchester Chartered Accountants<\/title>\n<meta name=\"description\" content=\"Read Jack Ross Chartered Accountants latest guide on why business health checks can minimise the risk of insolvency,\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/my-brains.co.uk\/jackross\/business-health-check-minimising-the-risk-of-insolvency\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Business health check \u2013 minimising the risk of insolvency - Manchester Chartered Accountants\" \/>\n<meta property=\"og:description\" content=\"Read Jack Ross Chartered Accountants latest guide on why business health checks can minimise the risk of insolvency,\" \/>\n<meta property=\"og:url\" content=\"https:\/\/my-brains.co.uk\/jackross\/business-health-check-minimising-the-risk-of-insolvency\/\" \/>\n<meta property=\"og:site_name\" content=\"Manchester Chartered Accountants\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/jackrosstax\" \/>\n<meta property=\"article:published_time\" content=\"2012-06-19T15:37:05+00:00\" \/>\n<meta name=\"author\" content=\"Jack Ross\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Jack Ross\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/my-brains.co.uk\/jackross\/business-health-check-minimising-the-risk-of-insolvency\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/my-brains.co.uk\/jackross\/business-health-check-minimising-the-risk-of-insolvency\/\"},\"author\":{\"name\":\"Jack Ross\",\"@id\":\"http:\/\/my-brains.co.uk\/jackross\/#\/schema\/person\/d65ae99f63f346e53c611cb62a38c818\"},\"headline\":\"Business health check \u2013 minimising the risk of insolvency\",\"datePublished\":\"2012-06-19T15:37:05+00:00\",\"dateModified\":\"2012-06-19T15:37:05+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/my-brains.co.uk\/jackross\/business-health-check-minimising-the-risk-of-insolvency\/\"},\"wordCount\":241,\"publisher\":{\"@id\":\"http:\/\/my-brains.co.uk\/jackross\/#organization\"},\"articleSection\":[\"Business Advice\"],\"inLanguage\":\"en-GB\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/my-brains.co.uk\/jackross\/business-health-check-minimising-the-risk-of-insolvency\/\",\"url\":\"https:\/\/my-brains.co.uk\/jackross\/business-health-check-minimising-the-risk-of-insolvency\/\",\"name\":\"Business health check \u2013 minimising the risk of insolvency - 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