As it is projected that consumers will reduce their spending throughout the next year, retail businesses are likely to be hit the hardest. As professional practitioners we believe that with timely intervention, business owners can manage their finances more effectively. We offer a number of services to enable companies to continue operating wherever possible including recovery, restructure and turnaround.

Our team have extensive experience in this area, plus a number of industry accreditations such as, R3, FSB and ACCA. Each business is assigned a personal practitioner that will work with them from the very start and who will be on hand to offer comprehensive advice every step of the way.
In every instance our team will work tirelessly to ensure that we find a suitable and successful solution for our clients. This involves producing comprehensive business strategies that will improve the company’s financial situation.

Of course, we appreciate that in certain circumstances liquidation is the only viable solution. In these situations our licensed practitioners can fully co-ordinate the liquidation process, so that this difficult period runs as smoothly as possible.

If you are bracing yourself for the coming year and what it has in store for your business, why not arrange an appointment with one of our licensed insolvency practitioners Gloucester. Full contact details and information about our services can be found on our website.

On the 6th April HMRC introduced an independent qualification review to ensure only companies who can show potential to afford the repayments can join. Companies unable to fulfil the tougher entry requirements may well find themselves more susceptible to insolvency particularly with HMRC acting more aggressively in collecting crown liabilities.

What is clear is that 2010 will be a challenging year for most. Directors need to remain vigilant particularly if the recovery gathers momentum and confidence continues to grow, demands on working capital historically increase during this time as directors expand their operation to increase sales. Whilst we embrace recovery Directors need to be mindful of who they do business with and remain cautious particularly when bringing in new clients and ensure their existing clients are controlling their risk accordingly.

It has also shown that the distress level of businesses has improved slightly to 80.79, significant when a score of 100 is given to businesses that are least likely to fail.

These results have shown that there may be a more positive outlook on the horizon for businesses, but with the economic instability of late it is important that businesses still tread carefully in any b2b dealings.

For any company or individual that is struggling, there are insolvency practitioners Cardiff area, such as McAlister & Co, on hand to offer a selection of services tailored to their personal requirements, these include business turnaround, recovery, restructure and insolvency.

Their aim is to identify the main problems affecting a company and seek to remedy them with a lasting, strategic solution. They understand that cost is a major determining factor for businesses choosing to employ their services, there is no cost for an initial consultation and from there they will always quote in advance for any work.

Unfortunately, in some cases intervention and repair is simply not a possibility, in these cases McAlister & Co’s insolvency practitioners will work closely with business owners to close down their company in an orderly fashion, cutting down on the repercussions for other companies and heartache of business owners.

If your business is finding itself in the wrong half of the statistics and is having trouble keeping afloat, contact McAlister & Co, who will be able to arrange an appointment with you to assess the services that you could benefit from.

However, this does not have to mean the end for directors and their employees, with professional advice from insolvency practitioners Cardiff area, such as McAlister & Co,  some may be able to move on and survive a second time around.

In previous years ‘insolvency’ or ‘bankruptcy’ instilled fear in many individuals, and corporate businesses went to the wall almost every day of the week. At this time, insolvency practitioners had to work hard to aid those companies and individuals that required their specialist help.

Throughout the present economic climate, insolvency practitioners have worked by the motto ‘Timely Intervention’. By approaching an insolvency firm at the first sign of trouble, businesses can be given a health check to help them to get back onto the straight and narrow.

Unfortunately, in some extreme cases there is little that can be done apart from to help the business to close down in an orderly fashion.

Some business managers choose to look after their businesses financial trouble by themselves however; this can cause more heartache in the long-term. There is no need to struggle alone, McAlister & Co Insolvency Practitioners Ltd can offer expert commercial advice.

They understand just how difficult it can be to admit that your business is failing. However, if you feel that your business is not doing as well as it should be and you are struggling through the current economic climate, consider contacting McAlister & Co Insolvency Practitioners Ltd. They will be able to offer sound advice and you will have the opportunity to arrange a free, no-obligation consultation.

Sandra McAlister has been elected president of the Association of Chartered Certified Accountants (ACCA) Swansea and West Wales members network.

Sandra has been a member of the ACCA since graduating with her qualification in 2002. In 2005 Sandra qualified as an Insolvency Practitioner and later established McAlister & Co Insolvency Practitioners Ltd.

Sandra takes over the role from Garry Astley and said “I am very grateful to the members for the opportunity to take on the presidency and I look forward to assisting in its development. These are challenging economic conditions for companies in West Wales but I feel passionately that the accountancy profession has a vital part to play in helping to steady the course of the local economy and ensuring the future viability of our businesses. ACCA has an excellent track record in developing people of ability throughout West Wales and the network is central to that task”.

Ben Cottham head of ACCA Wales said: “Sandra’s appointment is yet another positive step in the progression of ACCA in West Wales. Her expertise and leadership will be vital in taking the network forward in serving the interests of our members and students and helping to ensure that ACCA engages with businesses and organisations across the region.”

Just like the corporate sector the individual’s emotional burden of financial difficulty is a problem many do not face until their situation becomes desperate. Faced with county court judgements, the bailiffs, repossession of goods or ultimately, a Bankruptcy petition, the future can look bleak. In essence, there are four options available:

• Ignoring the problems and taking no action until it is really too late
• Negotiating reduced payments with creditors for a short period
• Court Administration order – less than 3 creditors and under £5000 of debt.
• Apply direct to your local county court
• Formally agreeing an Individual Voluntary Arrangement
• Applying for Bankruptcy

Clearly, ignoring the debt is not a viable answer. Indeed, negotiating reduced payments with creditors is only a short-term arrangement and does not have the support of the Courts, nor does it prevent interest accruing on the debt.

An Individual Voluntary Arrangement (IVA) avoids the stigma of Bankruptcy and is a powerful tool in dealing with personal debts.

In certain cases Bankruptcy may be a more appropriate measure, although individuals are advised to seek independent, professional advice before taking this route.

We accept appointments in Individual Voluntary Arrangements and Bankruptcy and will assist with informal negotiations with creditors.

In any event we will always encourage our individual clients to take immediate positive action.

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In the first instance call us 01792 459 600