Changes to Insolvency Law, Business Viability for CBILS & Planning Ahead to Raise Finance – BFB 293

Opening my latest Bulletin, I look at the recent government announcement on changes to The Insolvency Act. The move is designed to protect Directors from personal liability claims in respect of Wrongful Trading. Why has this change been made?

One aspect of the Coronavirus Business Interruption Loan Scheme that is catching businesses by surprise is the need to establish viability of the business going forward. I look at how you do this when applying for the loan.

During normal times planning ahead as to when to submit an application is important. However, in our current situation there is now only one perfect time to apply. The answer to that question is whether we are going to see another Credit Crunch?

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Rob Warlow is the MD of Business Loan Services which helps business owners raise commercial finance. For more information check out www.businessloanservices.co.uk and find how to subscribe to the weekly Business Finance Bulletin