{"id":1605,"date":"2025-02-10T13:32:53","date_gmt":"2025-02-10T13:32:53","guid":{"rendered":"https:\/\/accountants247glasgowsouth.co.uk\/?p=1605"},"modified":"2025-02-10T13:32:54","modified_gmt":"2025-02-10T13:32:54","slug":"is-your-business-in-financial-distress","status":"publish","type":"post","link":"https:\/\/accountants247glasgowsouth.co.uk\/?p=1605","title":{"rendered":"Is your business in financial distress?"},"content":{"rendered":"\n

Being in financial distress is incredibly worrying for any business owner. When you\u2019re facing County Court Judgements (CCJs), mounting debt and the possibility of insolvency, it can seem like there\u2019s very little light at the end of the financial tunnel.<\/p>\n\n\n\n

The latest report from insolvency experts at Begbies Traynor shows a record number of UK businesses finding themselves in financial distress. Numbers have increased by 50%<\/a> from September to December 2024, with 46,583 businesses falling into the category.<\/p>\n\n\n\n

But finding your finances in this perilous state doesn\u2019t have to be the end. There are ways to mitigate the damage and get your business back on track.<\/p>\n\n\n\n

What qualifies as \u2018financial distress\u2019?<\/strong><\/p>\n\n\n\n

Financial distress is defined as \u2018being in significant difficulty in meeting your financial obligations\u2019. In essence, it will usually mean that you no longer have the cash or liquid capital to pay your bills, cover payroll costs or repay your debts.<\/p>\n\n\n\n

But what causes a company\u2019s finances to get into such a dire state?<\/strong><\/em><\/p>\n\n\n\n

Insufficient cashflow<\/strong><\/p>\n\n\n\n

A lack of cash is a primary cause of financial distress for many affected businesses. Unexpected expenses, delayed payments from customers and rising costs can all contribute to this negative cashflow position.<\/p>\n\n\n\n

Declining sales revenue<\/strong><\/p>\n\n\n\n

A drop in sales also means a drop in revenue. This can be due to increased competition, changing consumer preferences or economic downturns. With less money coming in, you lose the ability to meet your financial obligations.<\/p>\n\n\n\n

Rising costs<\/strong><\/p>\n\n\n\n

Skyrocketing costs of raw materials, labour or energy can all have an impact. Higher costs and expenses eat into your profit margins, putting major strain on your cashflow and leaving you unable to cover your key outgoings.<\/p>\n\n\n\n

Excessive debt<\/strong><\/p>\n\n\n\n

High levels of debt, particularly short-term debt, will lead to high interest payments. These increasing interest rates make it difficult to meet your financial obligations, and also make it unlikely that lenders will offer further funding.<\/p>\n\n\n\n

Poor management decisions<\/strong><\/p>\n\n\n\n

Some of the causes of financial distress come from macro, external conditions. But poor strategic decisions, ineffective marketing and inadequate financial planning also play a significant part.<\/p>\n\n\n\n

Talk to us<\/a> in Glasgow about overcoming financial difficulties<\/strong><\/em><\/p>\n\n\n\n

If debt is mounting and your cashflow situation is looking dire, the time to take action is NOW! The sooner you tackle the financial issues in the business, the sooner you can start to bring your debts under control, and your cashflow back to an acceptable level.<\/p>\n\n\n\n

Come and talk to the team<\/a> about your financial worries. We\u2019re here to help you get back on track and to secure the future of your business as a viable enterprise.<\/p>\n","protected":false},"excerpt":{"rendered":"

Being in financial distress is incredibly worrying for any business owner. When you\u2019re facing County Court Judgements (CCJs), mounting debt and the possibility of insolvency, it can seem like there\u2019s very little light at the end of the financial tunnel. The latest report from insolvency experts at Begbies Traynor shows a record number of UK […]<\/p>\n","protected":false},"author":3,"featured_media":1606,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","jnews-multi-image_gallery":[],"jnews_single_post":{"format":"standard"},"jnews_primary_category":[],"footnotes":""},"categories":[94,58],"tags":[80,146,138,85,155,154,76],"class_list":["post-1605","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bookkeeping","category-business","tag-accountancyservices","tag-accountants247","tag-accountants247-glasgow-south","tag-cashflow","tag-finance","tag-finances","tag-glasgow"],"yoast_head":"\nIs your business in financial distress? - Accountants247 Glasgow South<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/accountants247glasgowsouth.co.uk\/?p=1605\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Is your business in financial distress? - Accountants247 Glasgow South\" \/>\n<meta property=\"og:description\" content=\"Being in financial distress is incredibly worrying for any business owner. When you\u2019re facing County Court Judgements (CCJs), mounting debt and the possibility of insolvency, it can seem like there\u2019s very little light at the end of the financial tunnel. The latest report from insolvency experts at Begbies Traynor shows a record number of UK […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/accountants247glasgowsouth.co.uk\/?p=1605\" \/>\n<meta property=\"og:site_name\" content=\"Accountants247 Glasgow South\" \/>\n<meta property=\"article:published_time\" content=\"2025-02-10T13:32:53+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-02-10T13:32:54+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/accountants247glasgowsouth.co.uk\/wp-content\/uploads\/2025\/02\/6ebUwO7W8sAAIpKOirX8g2-laptop-talking-graphs.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"800\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Jenny\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Jenny\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/accountants247glasgowsouth.co.uk\/?p=1605\",\"url\":\"https:\/\/accountants247glasgowsouth.co.uk\/?p=1605\",\"name\":\"Is your business in financial distress? - Accountants247 Glasgow South\",\"isPartOf\":{\"@id\":\"https:\/\/accountants247glasgowsouth.co.uk\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/accountants247glasgowsouth.co.uk\/?p=1605#primaryimage\"},\"image\":{\"@id\":\"https:\/\/accountants247glasgowsouth.co.uk\/?p=1605#primaryimage\"},\"thumbnailUrl\":\"https:\/\/accountants247glasgowsouth.co.uk\/wp-content\/uploads\/2025\/02\/6ebUwO7W8sAAIpKOirX8g2-laptop-talking-graphs.jpg\",\"datePublished\":\"2025-02-10T13:32:53+00:00\",\"dateModified\":\"2025-02-10T13:32:54+00:00\",\"author\":{\"@id\":\"https:\/\/accountants247glasgowsouth.co.uk\/#\/schema\/person\/6ea00043527519ad622d1ff539d56b99\"},\"breadcrumb\":{\"@id\":\"https:\/\/accountants247glasgowsouth.co.uk\/?p=1605#breadcrumb\"},\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/accountants247glasgowsouth.co.uk\/?p=1605\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-GB\",\"@id\":\"https:\/\/accountants247glasgowsouth.co.uk\/?p=1605#primaryimage\",\"url\":\"https:\/\/accountants247glasgowsouth.co.uk\/wp-content\/uploads\/2025\/02\/6ebUwO7W8sAAIpKOirX8g2-laptop-talking-graphs.jpg\",\"contentUrl\":\"https:\/\/accountants247glasgowsouth.co.uk\/wp-content\/uploads\/2025\/02\/6ebUwO7W8sAAIpKOirX8g2-laptop-talking-graphs.jpg\",\"width\":1200,\"height\":800,\"caption\":\"Accountants 247\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/accountants247glasgowsouth.co.uk\/?p=1605#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/accountants247glasgowsouth.co.uk\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Is your business in financial distress?\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/accountants247glasgowsouth.co.uk\/#website\",\"url\":\"https:\/\/accountants247glasgowsouth.co.uk\/\",\"name\":\"Accountants247 Glasgow South\",\"description\":\"High quality affordable Accounting\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/accountants247glasgowsouth.co.uk\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-GB\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/accountants247glasgowsouth.co.uk\/#\/schema\/person\/6ea00043527519ad622d1ff539d56b99\",\"name\":\"Jenny\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-GB\",\"@id\":\"https:\/\/accountants247glasgowsouth.co.uk\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/1559230d12db5d87d9520a58a991b2de872086b2f31b7ff002ef04944cf70e6a?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/1559230d12db5d87d9520a58a991b2de872086b2f31b7ff002ef04944cf70e6a?s=96&d=mm&r=g\",\"caption\":\"Jenny\"},\"url\":\"https:\/\/accountants247glasgowsouth.co.uk\/?author=3\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Is your business in financial distress? - Accountants247 Glasgow South","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/accountants247glasgowsouth.co.uk\/?p=1605","og_locale":"en_GB","og_type":"article","og_title":"Is your business in financial distress? - Accountants247 Glasgow South","og_description":"Being in financial distress is incredibly worrying for any business owner. When you\u2019re facing County Court Judgements (CCJs), mounting debt and the possibility of insolvency, it can seem like there\u2019s very little light at the end of the financial tunnel. The latest report from insolvency experts at Begbies Traynor shows a record number of UK […]","og_url":"https:\/\/accountants247glasgowsouth.co.uk\/?p=1605","og_site_name":"Accountants247 Glasgow South","article_published_time":"2025-02-10T13:32:53+00:00","article_modified_time":"2025-02-10T13:32:54+00:00","og_image":[{"width":1200,"height":800,"url":"https:\/\/accountants247glasgowsouth.co.uk\/wp-content\/uploads\/2025\/02\/6ebUwO7W8sAAIpKOirX8g2-laptop-talking-graphs.jpg","type":"image\/jpeg"}],"author":"Jenny","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Jenny","Estimated reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/accountants247glasgowsouth.co.uk\/?p=1605","url":"https:\/\/accountants247glasgowsouth.co.uk\/?p=1605","name":"Is your business in financial distress? - Accountants247 Glasgow South","isPartOf":{"@id":"https:\/\/accountants247glasgowsouth.co.uk\/#website"},"primaryImageOfPage":{"@id":"https:\/\/accountants247glasgowsouth.co.uk\/?p=1605#primaryimage"},"image":{"@id":"https:\/\/accountants247glasgowsouth.co.uk\/?p=1605#primaryimage"},"thumbnailUrl":"https:\/\/accountants247glasgowsouth.co.uk\/wp-content\/uploads\/2025\/02\/6ebUwO7W8sAAIpKOirX8g2-laptop-talking-graphs.jpg","datePublished":"2025-02-10T13:32:53+00:00","dateModified":"2025-02-10T13:32:54+00:00","author":{"@id":"https:\/\/accountants247glasgowsouth.co.uk\/#\/schema\/person\/6ea00043527519ad622d1ff539d56b99"},"breadcrumb":{"@id":"https:\/\/accountants247glasgowsouth.co.uk\/?p=1605#breadcrumb"},"inLanguage":"en-GB","potentialAction":[{"@type":"ReadAction","target":["https:\/\/accountants247glasgowsouth.co.uk\/?p=1605"]}]},{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/accountants247glasgowsouth.co.uk\/?p=1605#primaryimage","url":"https:\/\/accountants247glasgowsouth.co.uk\/wp-content\/uploads\/2025\/02\/6ebUwO7W8sAAIpKOirX8g2-laptop-talking-graphs.jpg","contentUrl":"https:\/\/accountants247glasgowsouth.co.uk\/wp-content\/uploads\/2025\/02\/6ebUwO7W8sAAIpKOirX8g2-laptop-talking-graphs.jpg","width":1200,"height":800,"caption":"Accountants 247"},{"@type":"BreadcrumbList","@id":"https:\/\/accountants247glasgowsouth.co.uk\/?p=1605#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/accountants247glasgowsouth.co.uk\/"},{"@type":"ListItem","position":2,"name":"Is your business in financial distress?"}]},{"@type":"WebSite","@id":"https:\/\/accountants247glasgowsouth.co.uk\/#website","url":"https:\/\/accountants247glasgowsouth.co.uk\/","name":"Accountants247 Glasgow South","description":"High quality affordable Accounting","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/accountants247glasgowsouth.co.uk\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-GB"},{"@type":"Person","@id":"https:\/\/accountants247glasgowsouth.co.uk\/#\/schema\/person\/6ea00043527519ad622d1ff539d56b99","name":"Jenny","image":{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/accountants247glasgowsouth.co.uk\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/1559230d12db5d87d9520a58a991b2de872086b2f31b7ff002ef04944cf70e6a?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/1559230d12db5d87d9520a58a991b2de872086b2f31b7ff002ef04944cf70e6a?s=96&d=mm&r=g","caption":"Jenny"},"url":"https:\/\/accountants247glasgowsouth.co.uk\/?author=3"}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/accountants247glasgowsouth.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/1605","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/accountants247glasgowsouth.co.uk\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/accountants247glasgowsouth.co.uk\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/accountants247glasgowsouth.co.uk\/index.php?rest_route=\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/accountants247glasgowsouth.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1605"}],"version-history":[{"count":1,"href":"https:\/\/accountants247glasgowsouth.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/1605\/revisions"}],"predecessor-version":[{"id":1607,"href":"https:\/\/accountants247glasgowsouth.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/1605\/revisions\/1607"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/accountants247glasgowsouth.co.uk\/index.php?rest_route=\/wp\/v2\/media\/1606"}],"wp:attachment":[{"href":"https:\/\/accountants247glasgowsouth.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1605"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/accountants247glasgowsouth.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1605"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/accountants247glasgowsouth.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1605"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}