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When a sole trader business is
in financial difficulty it is important to be aware that personal
assets can be exposed to creditor action.
With correct planning your personal
assets can be protected. How this can be done is detailed
at the personal difficulties section.
To navigate directly to the personal
difficulties section please
click here.
Also, because the business is in
financial difficulty it does not necessarily mean that your
business will need to cease to trade.
With correct planning, the business
could possibly downsize by reducing its overheads, realising
some of its assets for creditors benefit, reducing the number
of employees etc.
When Purnells look at your circumstances
we find out what you want to achieve and then review and plan
steps to take in relation to both your personal and business
assets.
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