Insolvency Service launches new online gateway to support SME directors

Designed specifically for those at micro, small and medium-sized companies, it hosts guidance and information on a range of business themes commonly faced by companies and aims company directors toto push their business forward by being more aware of potential pitfalls.  

This advice includes how to understand company finance, director duties and obligation, recognising early warning signs of financial distress, and how and when limited company debts can become personal debts.  
It followed research from the agency which found company directors wanted a single online hub to host clear and concise guidance, with signposts to more detailed guidance and support where needed.  

Insolvency Service Leanne Webb said: “Our research found that too many company directors struggled to locate the existing guidance that they needed, and that it was often complicated or overwhelming when they did. We hope this new one-stop shop provides the solution and helps directors take their companies in a positive direction.”

 
The Institute for Turnaround’s chief executive Milly Camley added: “Getting the right information and advice is crucial throughout the business cycle and most especially at points of stress. It’s great to see the need to know information – in plain language - in one place to enable directors to access what they need for business success.”