#18 THE INSOLVENCY TOOLKIT - How Businesses Survive Financial Difficulty

This episode of Fresh Perspectives explores what restructuring and insolvency actually mean for business owners, why early advice makes all the difference and what options exist long before a company reaches the point of no return.

Rob Brown is joined by Matthew Richards, Joint Head of Restructuring and Insolvency at Azets, to discuss the current pressures facing UK businesses and why rising costs, national insurance changes and global uncertainty are keeping insolvency professionals busier than they have been in years. Matt explains the difference between restructuring and insolvency, why the two are more closely related than most people think and what tools are available to directors who act early.

We explore what wrongful trading means and why directors can be personally liable if they continue trading without a realistic prospect of survival. Matt walks through the practical steps any business owner can take right now, including how to build a 13-week cash flow, how to sensitise a forecast and when to have a conversation with a specialist.

The episode also covers the emotional weight of financial difficulty, why most business failures are not the owner's fault and how insolvency can sometimes be the beginning of something new rather than the end.

You can connect with Matthew Richards on LinkedIn.

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Fresh Perspectives is the business podcast from Azets where advisers, experts and leaders share fresh thinking to help you move forward with confidence.

Each episode explores real-world challenges and opportunities for business owners and entrepreneurs, from finance and growth to leadership and technology.

Formerly Bang The Drum, the show continues Azets’ commitment to sharing practical advice, new ideas and inspiring stories from across the business community.

This podcast has featured at #1 in the Apple Podcast charts for Management podcasts and #19 in the Apple Podcasts charts for Business podcasts.

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Find more about Azets at www.azets.com.

Contact us at podcast@azets.co.uk.