Case study
Winter of discontent for rural businesses?
Siann Huntley is a specialist in advising rural businesses in distress.
Farming requires a lot of hard work, all year round but winter can be particularly tough. The sector has been buoyant over recent years but there are a number of challenges which mean the outlook is uncertain.
Fuel, labour and raw material costs are already high but are expected to increase further over the winter. Finding the cash to meet these costs is key but the problem is that BPS payments are declining as the scheme phases out and are likely to be worth less in real terms with rising inflation.
Many farmers rely on these payments at this time of year to pay off supplier accounts and overheads. If this vital component of cashflow is reduced they may find themselves short of cash unable to meet their financial commitments and under pressure from creditors.
The expert team at Leonard Curtis work with rural businesses in exactly this situation.
Weve helped businesses under threat of winding up from HMRC to secure time to pay arrangements thereby easing cashflow pressure, removing a worry and enabling them to live to fight another day.
Weve also assisted businesses where the relationship with their bank has broken down. By acting as conduit between management and the funder weve been able to stabilise the situation and agree a way forward either with continued support or with a new bank.
In terms of more general finance raising, we can help business owners access additional funding be that for investment in automation or diversification or to bridge a funding gap.
Sadly, sometimes a business cant survive and insolvency is inevitable in such cases we always provide simple and straightforward advice on the options available to make sure you retain control and find the best outcome.
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Reach Commercial Finance Limited. Registered in England no 09056450. Leonard Curtis is a trading style of Reach Commercial Finance Limited. Leonard Curtis is a broker not a lender and is independent with access to the whole of market. We may receive commissions that will vary depending on the lender, product or other permissible factors. The nature of any commission model will be confirmed to you before you proceed. Authorised and regulated by the Financial Conduct Authority FCA no. 753686. Registered with the Information Commissioner’s Office reference ZA069234
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