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Derek Cooper's Articles in Business Management

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  • A company voluntary arrangement costs less than pre-pack admin
    If your company is in trouble and you are looking for ways of preserving investment cash, a company voluntary arrangement could be a more affordable rescue solution than pre pack administration
  • What happens if I receive a County Court Judgement?
    Not responding to and ultimately not paying a CCJ can have very serious consequences for a business. If you find yourself in this position, it is possible that your business is insolvent and you should act swiftly to agree on and implement a business rescue plan.
  • When should I use a Company Voluntary Arrangement (CVA)
    A company voluntary arrangement could be the ideal business rescue solution. If your business is failing due to debt which you are unable to pay and you are spending your time juggling creditors rather than running your company. For a business in financial difficulty a company voluntary arrangement can be a great business recovery solution.
  • Pre pack administration and possible problems with the HMRC
    Pre-pack administration or phoenixing can be a useful rescue solution for businesses in financial trouble. However you may find taking advantage of this option might get hindered if HMRC decide they want a VAT deposit. When is this likely to occur?
  • What happens if I get a Winding Up Petition?
    Winding up petitions are being increasingly used as an aid to business debt collection because of the serious consequences for a company if they are ignored. If you receive a winding up petition it is vital to act quickly or risk losing your business. We give some options you can take.
  • Business Rescue - the right time to use Pre Pack Administration
    Pre Pack Administration (Phoenixing) is one of the Business Rescue solutions available to companies in financial trouble. However one solution is not always the right fit for every situation. We look at what pointers would indicate this is the right solution for you.
  • Pre Pack Administration may not be the answer if you owe money to your company
    Where a director or owner owes money to the company a Company Voluntary Arrangement (CVA) is probably better than Pre Pack Admin to resue the company. We describe these two company recovery options and explain why.
  • Business difficulty because a client is bankrupt
    In the current economic climate it is all too common for on of your major customers to become insolvent while owing you money. Here is some advice for what to do in this situation.
  • An increase in bad debts will result in more winding up petitions
    Debt collection strategies such as the issuing of winding up petitions are likely to be more widely used as the number of companies in financial difficulty continues to increase into 2010 and 2011.
  • What should I do about a statutory demand?
    On receiving a statutory demand you have three weeks to respond. After that the courts will assume your company is insolvent and take steps to wind it up. Here are the four options that you have.
  • Is pre-pack liquidation a better option than critics would have us believe?
    Pre Pack liquidation or Phoenixing has become the subject of much debate over the past 12 months. It is my view that these arguments against the pre pack process are fundamentally flawed.
  • How to do a pre pack liquidation or phoenix
    Transform your dying business using Pre-pack or Phoenixing. Take the viable parts of your struggling business and move on using this guide.
  • Practical guide to a Company Voluntary Arrangement
    If your company is under serious pressure, but if the historic debt was removed, the business remains viable, then a Company Voluntary Arrangement (CVA) could be the answer. There are a number of steps you need to follow.
  • What is the liquidation process
    If you are looking to close your company, then this article describes the process you will need to go through in order to liquidate it.
  • Tips to ensure a successful Pre-Pack or Phoenix
    There is no guarantee of a success when undertaking a Phoenix or Pre-pack. Following the tips below will help get off to the best start possible.
  • Raising company finance - what is factoring and invoice discounting?
    Due to the credit crunch and many banks' unwillingness to lend, businesses are finding it difficult to raise money to finance their activities. Using one of three variations of Factoring and Invoice Discounting can allow a company to improve its cash flow.
  • Can a landlord seize goods in lieu of rent?
    How can you protect yourself against the legal right of landlords to seize goods of a defaulting tenant.
  • Business Refinancing used to prevent Company Bankruptcy (Liquidation)
    In the midst of an economic downturn, many companies find themselves at risk of failure because they do not have enough cash to maintain their day to day business activities. High Street banking institutions are currently extremely reluctant to lend because of their huge bad debt risks. In the face of this there are alternative funding options which should be considered which are collectively known as business re-financing.
  • Company Bankruptcy (Liquidation) avoided using Pre-Pack or Phoenix
    If your company is in significant financial difficulty you may be looking at closing (or liquidating) the business. However, if you believe that the business idea remains a good one, you should look at a Pre Pack Liquidation or Phoenix.
  • Business Refinancing - Is the Enterprise Finance Guarantee Working?
    The Enterprise Finance Guarantee scheme (EFGS) is designed to is to boost lending to small and medium sized businesses. The question is has it worked?
  • Ways to help cash flow in difficult economic times
    One of the main reasons for business failure during recession is late or non payment of debts. If you are struggling to persuade your customers to pay, there are a number of actions you can take to get them to part with their cash.
  • Deferring company tax is covering up a ticking time bomb of insolvency
    On the face of it, the corporation tax deferment scheme sounds an extremely good idea. However, I believe it is important to question whether this policy is simply deferring an inevitable wave of company insolvencies.
  • If a customer has a Company Voluntary Arrangement (CVA), how can we collect the debt owed to us?
    Unfortunately, with the difficult trading conditions in which many companies are finding themselves, the use of procedures such as company voluntary arrangements is likely to become increasingly common. This is bad news for creditors who will find themselves with unpaid accounts.
  • I have received a Winding Up Petition - What actions can I take?
    More recently, creditors have started to use winding up petitions specifically as debt collection tools. Rather than issuing a county court judgement which could then be ignored, creditors are choosing to issue the winding up petition because of the immediate pressure that this puts on the company to pay the outstanding debt. With such serious consequences it is important that Company Directors are aware of the following actions that they can take.
  • Phoenixing by using Asset Refinancing
    One of the problems which company directors have to consider when considering a pre-pack liquidation solution is their ability to fund the purchase of the old company's assets and good will. Asset Refinancing is a good way to do this in todays climate.
  • Why it is important to do a Winding Up before starting a new company
    When a business is seriously struggling to pay outstanding debts, the directors often ask me whether they can just shut up shop and wait for HMRC to issue a winding up order. In the mean time, the directors plan is to start a new business and carry on trading. Why is this not the best option?
  • Compulsory Liquidation and how to protect yourself as a director
    Once a company has been liquidated either through a Creditors Voluntary Liquidation or winding up, the liquidator will produce a report on the conduct of all of the directors in the period running up to when the business stopped trading. If the liquidator believes that the directors did not act properly during this period, then they can accuse the directors of wrongful trading. If this accusation is upheld, the directors in question can be made personally liable for the company's debts. They may also be banned from being a director. How do you minimise this risk?
  • Business Refinancing as an alternative to the government Enterprise Finance Guarantee
    The UK government introduced the Enterprise Finance Guarantee scheme (EFG) as the cornerstone for businesses to trade out of the recession. Companies are still struggling to raise vital finance with the support of the scheme.. Business owners are well advised to consider alternative options for raising finance which is where Business Refinancing comes in.
  • Business Refinancing - Raising Money in the Credit Crunch
    The economic downturn of the last 12 months has put severe restrictions on the amount of money banks are willing to lend to their business clients. This situation is having huge implications for the development of businesses in the UK. However, there are some perhaps less well known avenues for raising business finance which company directors and business owners should be aware about.
  • Why is Company Administration not the best solution to save a failing company
    Company Administration in theory allows a business time to review its operations strategically and implement significant changes to put it onto a sound financial footing. However Customers and suppliers must be told of the company's position and this will start to cause them to consider other options making the object of the Administration harder to achieve. This article looks at the issues and alternatives of Company Administration.
  • What happens when an Administrator is appointed and how are staff affected?
    With the economic climate as it is currently an increasing number of companies are going into administration. I have spoken to a number of people recently who are employed by businesses where they are facing Administration. These people are quite concerned and want to understand what administration is and what it might mean for their personal situation.
  • I have a County Court Judgement - What does this Mean?
    More and more businesses are finding that they have been issued with a County Court Judgement commonly known as a CCJ. This article seeks to explain what a County Court Judgement is, why they are issued and what the implications of receiving a County Court Judgement are.
  • Access to Personal Finance is as vital as Business Finance if we are to beat the recession
    I have come across many examples of small business owners or directors who use personal borrowing to supplement their business cash flow. Unfortunately due to the effects of the credit crunch, it is getting more difficult to obtain personal credit. This article looks at what can be done about this
  • Company Voluntary Arrangements are only half a solution for a failing buisness?
    At first glance, a Company Voluntary Arrangement is good news for both the company and its creditors. It allows a company which might otherwise have failed and been wound up to continue to trade. Despite these potential benefits, many insolvency professionals have long regarded Company Voluntary Arrangements with scepticism because they believe there is a likelihood of early failure.
  • Top Five Warning Signs your Business may be Insolvent
    The official Insolvency Service figures showed that in the first part of 2009, the number of companies being put into liquidation in England and Wales increased by over half compared to the same quarter in 2008. I would suggest that during these difficult economic times, directors or owners and senior managers take special notice in the following areas...
  • Company Liquidation - What is Liquidation and when should it be used?
    If you do not want to continue running your business or you think it is in difficulty and cannot continue to trade, then you need to get good information about your possible options. One area which you will need to consider is company liquidation. The purpose of this article is to explain in simple language what company liquidation is and when its use might be appropriate.
  • Business Phoenixing - Is a Pre-Pack a practical way to avoid company failure?
    As the recession continues to bite, more and more businesses are finding it difficult to continue trading. However, very often these difficulties are not because customers have stopped buying completely. Rather, they are buying in reduced volumes and asking for lower prices.

    Facing these circumstances, many businesses could continue to trade if they did not have the burden of servicing legacy debts.
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