Business insolvency advice in Bromsgrove
Separate company obligations from family support
In a Bromsgrove owner-managed business, household money and company funding can become closely connected during a difficult period. Reconcile money introduced by directors, expenses paid personally and withdrawals from the company. Clear records help establish who owes what.
Before relying on another personal contribution, test whether the company has a practical route back to paying its own bills. Review the impact of guarantees and secured lending alongside the trading forecast. If rescue would require funding that is not available, discuss closure rather than leaving the funding assumption unresolved.
Speak to an adviser
Quote Bromsgrove and tell us your postcode so we can discuss suitable arrangements.
If a notice has a deadline, give us the date and the type of notice at the start of your enquiry.
Support across Bromsgrove and the surrounding area
We support company directors in Bromsgrove, Worcestershire, including businesses in the B60 postcode district. You can also contact us from Rubery, Catshill, Wychbold, Alvechurch. Give us your full trading postcode and company details so the discussion starts with the right business and location.
Initial support is available by telephone and online enquiry. The locations listed describe our service coverage; they are not advertised walk-in offices. Any proposed meeting needs to be arranged in advance.
Hired equipment and unfinished work
A Bromsgrove contractor may have plant and tools on site that are financed or hired. Record ownership and the costs of completing each project before considering sales or returns. A short-term cash fix must not rely on assets the company cannot freely dispose of.
The problem and possible next steps
Tax arrears: if VAT, PAYE or Corporation Tax is overdue, review whether the business could afford a payment proposal alongside new bills. HMRC Time to Pay requires HMRC’s agreement; it is not an automatic write-off.
Debts that trading cannot repay: compare business rescue with an orderly closure. A licensed insolvency practitioner must handle any formal appointment, and the appropriate route depends on the full financial position.
For issues involving construction, see our sector guidance. We consider the business’s actual contracts, costs and liabilities rather than assuming every company in Bromsgrove faces the same problem.
Questions from Bromsgrove business owners
What if relatives have lent money to the business?
Record who borrowed it, the amount outstanding and the agreed terms. A loan to the director personally is different from a loan to the company, even if both were used to support trading.
Do you help businesses in B60 and around Bromsgrove?
Yes. Our enquiry service covers Bromsgrove and nearby areas including Rubery, Catshill, Wychbold. B60 is one example postcode district, rather than a boundary for advice. Tell us your full postcode and where the company is registered when you contact us.
What if customers are withholding payment for completed work?
Separate agreed invoices from retentions, variations and disputed work. Record the likely collection date and cost of finishing each contract. That gives an adviser a clearer basis for assessing whether the business can trade through its cash shortage.
What should I have ready when discussing my Bromsgrove company?
Prepare a summary of creditors, cash available, unpaid customer invoices and the next essential payments. Include tax arrears, finance agreements and any personal guarantees. Mention legal notices and their deadlines at the start; you do not need a finished recovery plan to make an initial enquiry.
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Company rescue and liquidation services · HMRC arrears support · Director responsibilities
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