Supporting businesses across Cambridgeshire through the Covid-19 crisis

Covid-19 is causing an unprecedented economic downturn, and businesses are struggling to survive day-to-day.

Social distancing and the lockdown measures introduced by the government means the vast majority of businesses are unable to function normally and are experiencing severe financial decline as a result.

A wide-ranging £330billion support package has been introduced by the Chancellor and is helping some businesses, but others are still struggling to survive in these extremely challenging circumstances.

Professional assistance is likely to be key for many businesses in navigating their way out of financial trouble. You need to take action now, however, to stop the decline and save your business.

Real Business Rescue are business rescue and recovery specialists with extensive experience of supporting companies, directors, and their stakeholders.

From our office in Cambridge, partner Louise Baxter and her team can assess the immediate threat to your business and offer actionable advice on how to get through the crisis.

Here are just a few of the ways Louise and the team at our Cambridge office can help you at this time:

Emergency funding

The government’s CBILS programme offers access to emergency funding but still requires a sound business proposition when applying, as do other funding avenues. Louise can help you put together a strong proposal for emergency finance if it is needed, and approach lenders on your behalf. Real Business Rescue has professional contacts with a network of lenders, and will identify your best options.

HMRC Time to Pay (TTP)

Similarly, we can negotiate with HMRC on your behalf for a Time to Pay arrangement that offers you an extended period of time to pay your tax arrears. HMRC has broadened access to their TTP scheme for businesses struggling to pay, but they have specific eligibility conditions on application. We will help you navigate the system and use our understanding of their requirements to help you present a strong case with potential to obtain a vital financial ‘breathing space’ that could help you survive.

Tailored professional guidance

Generic advice for businesses in financial decline does not always factor in the specific challenges faced by individual industries and sectors. Louise and the team can tailor their guidance to your particular business, taking into account the unique nuances of your sector. We will talk you through all the options, whether that includes actions to rescue your business or if the only option is closure, we can act as liquidators to ensure it is closed down in an orderly manner.

Restructuring

If creditors are threatening legal action against your company, we can offer actionable advice to protect it. This might involve formal renegotiation of your debts within a new legally binding agreement, for example, or entering company administration with a specific aim in mind.

Get in touch

To talk through the issues your business is dealing with and how the coronavirus pandemic is having an effect, please contact Louise or one of the team. We can arrange a free consultation in complete confidence with your local Real Business Rescue office in Cambridge.

Call 01223 646 529 or email cambridge@realbusinessrescue.co.uk