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Wilson Field

Wilson Field

Category: Insolvency Practitioners Category: Insolvency Practitioners

Address: The Manor House, 260 Ecclesall Road South, Sheffield, South Yorkshire, S11 9PS

Landline: 0330 12... Landline: 0330 12...
Landline: 01792 8... Landline: 01792 8...
Fax: 0114 262 0661

 Website: www.wilsonfield.co.uk
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 cva, debt advice, Inland Revenue Debts, insolvency advice

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Business Profile

Wilson Field are a firm of licensed insolvency practitioners who have many years experience dealing with business recovery and corporate insolvency issues as well as dealing with personal debt solutions. At Wilson Field we do not charge for our initial consultation and will listen sympathetically to your problems. When we have assessed your situation we will advise you quickly and efficiently finding the right solution for you. Call us now on 0800 652 1444.

Brace yourselves for a rough ride out of recession Nobody is under any illusions about the tough times ahead. National Debt is at record levels and has increased sharply since 2008 mainly as a result of recession ( - lower tax receipts, higher spending on unemployment benefits) and the financial bailout of Northern Rock, RBS and other banks.Whilst there may be some disagreement about timing, politicians from all sides agree that drastic cuts in public expenditure are inevitable to reduce public borrowing. Experts, as usual, have different opinions. As recently as February the International Monetary Fund gave strong backing to the Labour government's "wait-and-see" approach to cutting Britain's budget deficit, warning that the weakness of growth required tax increases and spending cuts to be delayed until next year. Meanwhile, more recently the Governor of the Bank of England, Mervyn King, openly supported the new Government for its plan for an immediate £6 billion cut in public spending. The problem with any economic model is that there are so many variables which can influence the outcome. On the one hand some fear that cutbacks will trigger higher unemployment which in turn will reduce income from taxation and perhaps impact on spending habits and nudge us back into recession. On the other hand the issue of public debt has to be addressed at some point. Historically, the peak in business insolvencies has occurred after coming out of recession. This is caused by a combination of factors. Many businesses will have had to draw on reserves to survive the downturn. So just when the need for working capital increases to cope with business starting to pick up, reserves are depleted. In normal times companies would turn to the banks for support. However, the banks themselves are still licking their wounds from the recession and are not in great shape themselves. At a time when they are risk averse they are not going to look favourably on a company with a weak balance sheet.So, unless alternative forms of lending (for example invoice finance) or private investors are available to plug the gap businesses potentially face failure.Even at that stage it is not all bleak. There are often alternatives means of rescuing a business when all other avenues have been explored involving insolvency procedures and possible restructuring. If you are a business owner and are concerned about cash flow or any other financial issues, the worse thing is to delay taking advice - it reduces available options and the chances of survival. Phone Freephone now on 0800 458 3320 and ask for Phil or visit our web site at http://www.wilsonfield.co.uk/

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