Business Running Out of Cash? Your Options Explained with Iain Nairn

When cash gets tight, it can be hard to tell whether your business is facing a short term problem or something more serious. It can be even harder to ask for help. Justin Turner joins insolvency practitioner Iain Nairn of Leonard Curtis for a frank conversation about business debt, cash flow and the choices available to UK business owners. Justin shares his own experience of discovering £82,000 of negative equity in his business during the credit crunch. Looking back, he asks whether speaking to someone sooner could have changed his approach. In this episode: • The difference between cash flow and balance sheet insolvency • Warning signs worth discussing with your accountant • What an insolvency practitioner can explain at an early stage • Limited liability, dividends and payments to connected people • HMRC arrears and Time to Pay arrangements • The main routes through serious business debt • Why personal guarantees and further borrowing need careful thought • The fear and pride that can delay asking for help The central lesson: seeking advice early can give you more time to understand your options. You do not need to have all the answers before starting that conversation. Guest: Iain Nairn, insolvency practitioner at Leonard Curtis. Find out more: https://www.leonardcurtis.co.uk/ Hosted by Justin Turner. AskJT brings you practical business education to help you make clearer, more confident decisions. Follow AskJT for more conversations about business, finance and the lessons owners learn along the way.