Data published this week shows that the number of Scottish firms failing grew by approximately 30 per cent year on year in the third quarter, amid prolonged economic uncertainty. Businesses are being urged to make sure they can adapt to market changes and to know and look out for the warning signs that could mean the difference between success or failure. By recognising and acting on these warning signs at the earliest possible opportunity will enable you to re-evaluate, improve and where necessary restructure your personal or business’ financial affairs.
Our SME business experts at Beavis Morgan are available to structure your business with cashflow and profit forecasting to provide timely information, measure performance and maximise opportunities. We work to a pre-determined plan, to help you avoid any nasty surprises.
In turn, if you have any concerns about your personal financial situation or that of your business, our specialist insolvency, recovery and advisory partners at BM Advisory can assist with resolving issues which can impact on business performance and success, and find innovative solutions for businesses and individuals in distress.
Contact Steve Govey or your usual Beavis Morgan Partner for further information about how we can assist you and your business.
Further reading:
Businesses must keep a constant lookout for risk factors in their supply chains