Thursday, 5 January 2012

25 Companies a week in Scotland will go Bust

In a recent report from PKF (UK) LLP; a leading UK wide firm of accountants and business advisor's, they warn that up to 25 businesses in Scotland each week will go bust in 2012. That's a staggering 1300 in the year to come!

Recent figures also show that in the third quarter of 2011, 361 businesses in Scotland entered some form of insolvency process. This represents a 46.2% increase of the same period in 2010.

These alarming figures confirm that businesses in Scotland really are being adversely effected by the continuing economic downturn, particularly the small to medium size sector.

These are worrying figures for us all, however, company directors should remember that many options exist whereby problems can be resolved by developing and implementing sound strategies for recovery and future growth and prosperity.

According to these figures, many businesses in Scotland will fail, however, if directors seek help early, then companies and jobs can be saved.

If you are a struggling business based in Scotland then talk to us; administration or liquidation are not the only options, they effectively represent the end of the company. There are alternatives, we can help you preserve your company, whilst keeping it in your in your control; if appropriate we advocate the use of a Company Voluntary Arrangement as a way of rescuing distressed companies.

There is only one company driving the company rescue culture in Scotland. - KSA Group.

Call me on 0131 242 0081 if you have any worries about your business.

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