Shutting Down Your Business Isn't Your Last (and only) Choice - CPA

Shutting Down Your Business Isn’t Your Last (and only) Choice

28th March 2018

In this current climate of company insolvencies, high-interest rates, and Brexit uncertainty, no-one would blame you if you wanted to leave the show early.

Are your company profits falling?
Is it getting too difficult to hire new people?
Is your cash flow infested with late payers?

Being a business owner is hard work, and when the economy and consumer behaviour is against you, sometimes you just want to throw in the towel.

This attitude may be common, but it is in no way the easiest, nor the wisest cause of action.

Before you decide to close your business down or sell it, come and talk to us at CPA. We have a special scheme using some little used legislation that can help you realise a hidden source of cash within your business.

Call 020 8846 0004 and ask for a member of the LPC team or email us today to make a confidential inquiry.

At the Credit Protection Association, we have a history of helping small businesses with their credit management, helping them avoid or recover bad debt, affording them the financial freedom to buy new equipment for their business or a new sports car for themselves.

We can quickly uncover owed funds you didn’t even realise was there. This extra cash can double as a lifejacket and rescue business owners from the brink of insolvency or provide the necessary funding for new expansion projects. These funds could be far greater than what you would get for selling the business outright.

While it may be easier to call it a day, what if you had hidden value within your business? You could uncover funds that could prolong your lifespan, and build your business up stronger than ever.

Here, we have outlined the top 5 reasons businesses close down. Are these inevitable, or are there ways to keep your doors wide open?

Late payment

The major concern that plagues business owners is the danger posed by late payments. If the owner’s complacent, late payers can damage a business’ cash flow and reputation, and even lead to liquidations. This has led many owners to fear that their business will never recover.

Late payers can be a pain, but they are not the grim reaper and if your business encounters them, you can and will recover.

Coming to CPA will not only get these bad debts recovered but will see your business revitalised in the process. Our debt recovery services will chase down those late payers, slow payers and bad payers, while our credit management products will stop them from coming back.

Plummeting Profits

The UK is currently experiencing a so-called ‘retail apocalypse’, where falling profits and business confidence have led to a record number of retailers to close up shop.

The rising popularity of online retailers has threatened the vitality of brick and mortar stores, with fast delivery and automated customer service favoured by consumers. Various technological advancement and the increased implementation of automation in business, all have put traditional concepts at risk.

This is not the time to give up, however, and reviving your cash flow can open your business to new opportunities that don’t involve insolvency practitioners.

Credit management professionals, like the team at CPA, can recover lost funds and uncover unknown value within your business. So why not approach us first, before calling in the moving trucks!

Competition

Lost that important client to a rival? Don’t have the equipment or the revenue to compete?

We understand the increasingly competitive environment of the high street, and that it can affect business confidence quite dramatically. However, it is not something that cannot be combated and friendly competition can, in fact, do your business a bit of good.

Whether you are a small or large business, it is not hard to give your business an edge over your competitors. Investing in new technology, innovation or even new services will immediately attract consumers and possibly take them away from your rivals.

Don’t have the funds for expansion? Not a problem. At CPA, our debt recovery services uncover extra cash for our members, allowing them to fund expansion and investment projects!

Management

Sometimes businesses are mismanaged, either because the wrong person was hired, or the right person wasn’t given adequate training. Either way, it is not something that should dictate the failure of a business, nor is it something that cannot be helped.

Running a business requires keen organisational skills, attention to detail and tolerance of mundane paperwork; all of which can indeed be taught by utilising the right training programme.

Acquiring our services at CPA, your business could free up its cash flow and fund a multitude of training and management schemes, to not only train the managers that you already have but also train the talent you didn’t even know you had.

A lot of employees seek new employment due to disinterest or lack of progression within the workplace, advertising management schemes internally could boost your cash flow as well as your employees’ morale.

Economic conditions

Tough economic conditions are a common cause of company closures. Usually unpredictable and always inevitable, these dips in economic growth or spikes in inflation do the most damage to smaller and more vulnerable businesses.

As with most things in business, these conditions can be combated by some extra cash. If interest rates and business rates can go up, so can your revenue.

At CPA, our debt recovery services can provide the financial cushion so your business can fall on its feet. We will chase down late payers and recover old debt, rectifying any monetary damage caused by high inflation or low profits.

What now?

In these difficult times, many business owners prefer to go overboard than be dragged down with the ship. While this may ease the strain it could also lead many to financial difficulty unnecessarily. Our team at CPA have freed up the cash flow for many business owners who saw themselves as lying beyond help.

Our debt recovery services have provided funding for expansion projects, while our credit management projects have ensured their finances have remained on solid ground; our credit checking facilities and company directories always keeping a close eye on all customers and suppliers.

Before you shut up shop, or involve an insolvency practitioner, come to CPA. We could free up cash and even unlock some inner potential within your business that you didn’t know was there.

At the end of the day…, what have you got to lose?