Business Rescue Service give their reaction following statistics showing that UK firms have not expressed financial confidence in the current climate.
(1888PressRelease) April 08, 2011 - The Business Rescue Service issued advice and warnings to troubled UK businesses as news broke that business confidence remains tremendously low with many still battling financial problems. Following high company insolvency statistics last year, the International Business Report has found that just 8% of UK businesses expressed feeling confident in the current climate. Further research for the International Business Index described half of all UK SMEs as concerned about rising costs. A substantial number also felt access to funding and capital did not meet their needs.
Research for the International Business Report was conducted throughout Europe, with the UK identified with the lowest levels of business optimism bar Spain, Ireland and Greece. Whilst 16% of respondents had expressed feeling confident last year, just half of that number had this time around. 64% did not expect to be able to increase their pricing this year. 66% did not expect to increase their staff team in the year to come. There are also concerns among firms about inadequate access to lending facilities.
"16546 firms went into liquidation last year and clearly there are lingering serious issues. The most important message to get across is to seek advice sooner rather than later. Our financial analysis of the company's status is invaluable for planning purposes. We help to identify the direction they should be taking next. We also advise on Commercial Finance. In cases where the business rescue is not possible, we are on hand to advise on the most appropriate legal remedies. We would look to preserve the underlying business wherever possible, for example, by looking at whether pre-pack Administration could be an option. "
A survey of 1,500 small businesses in the UK for the forthcoming new International Business Index also found that there were widespread concerns about company finances. 19% felt lack of access to capital and funding was likely to present the greatest obstacle to success. 40% felt access to capital and funding within the UK was not currently adequate. 50% were concerned about rising costs and 55% planned to keep carefully monitoring their financial status. 46% relied on conducting their own business research using the internet.
"Again, the best advice we can give is to speak to one of our experts for an individual a. While there is plenty of information online, each business is absolutely unique. There are times when we find directors have come to us too late, when some options that would have been useful to them are now closed off. We are able to negotiate with creditors and HMRC for tax arrears. We provide expert advice on company insolvency and the legal routes to resolve it, including help with compulsory or voluntary liquidation. We advise on all aspects of administration and Company Voluntary Arrangements. For sole traders, we can offer advice for personal liabilities, such as IVAs and vital advice for cases of bankruptcy."
Any UK director, manager or sole trader can use the Business Rescue Service for advice and input at any stage in their company's trajectory. To speak to the team call 0845 468 2395 or complete their online contact form at www.businessrescueservice.co.uk
Business Rescue Service give their reaction following statistics showing that UK firms have not expressed financial confidence in the current climate. 
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