Warning Signs struggling businesses need to look out for: Part 2

30th June 2010

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Is your business struggling. This is the second part of a four part series to ask yourself if your business needs some kind of help.

Directors warning signs

You have overdrawn director’s current accounts
Directors are taking big salaries and expenses. ("It's my business anyway!")
You company has arrears of tax, PAYE and VAT.
You think that one more sale, one more contract, one big customer payment will solve the cashflow problem? (It won’t).
You don’t like changes.
Fire fighting - you don’t get your work done because of lack of focus.
“Compartmentalising" problems - in other words do you deal with one creditor or business critical problem and ignore others?
There is a lack of business / accounting information or wrong information and you often end up concentrating on non-essential issues.
You don’t have a business plan. Your company doesn’t have regular team, management and board meetings.
Do you blame the:

Bank;

Creditors;

Debtors;

Accountants;

Advisors;

Everyone but YOU for your cashflow pressure?

If you get an uncomfortable feeling that these warning signs are familiar then call Rupen Shah on 07868809350 for a free and confidential chat.