News: Summer time blues
Paul Moorhead of Rotherham insolvency practice, Moorhead Savage, discusses the impacts that Summer holidays can have on a business.
Established in RiDO's Moorgate Crofts business centre in Rotherham, Paul leads a team at Moorhead Savage offering high quality, professional, impartial and ethical help and debt advice to both companies and individuals.
Paul said: "The problem is pretty much the same one that businesses face at Christmas, the other time of the year when we are supposed to be enjoying ourselves.
"Some companies use the summer holiday period as an excuse not to pay people on time, which can have an added impact on an organisation already struggling with a cash flow problem.
"It's also a time of year when production slows down in many sectors because people are away and things don't move forward and quickly as they should.
"And people find that customers are ordering less, always a worry when orders are already lower than expected due to the on-going impact of the recession."
The response to any concerns should, Paul added, be both instant and positive.
"Don't let a summer holiday time cash flow crisis become a disaster in the autumn - the quicker you seek a solution to the problem the more likely there is to be a successful outcome," he said.
Moorhead Savage website
Images: Moorhead Savage
Established in RiDO's Moorgate Crofts business centre in Rotherham, Paul leads a team at Moorhead Savage offering high quality, professional, impartial and ethical help and debt advice to both companies and individuals.
Paul said: "The problem is pretty much the same one that businesses face at Christmas, the other time of the year when we are supposed to be enjoying ourselves.
"Some companies use the summer holiday period as an excuse not to pay people on time, which can have an added impact on an organisation already struggling with a cash flow problem.
"It's also a time of year when production slows down in many sectors because people are away and things don't move forward and quickly as they should.
"And people find that customers are ordering less, always a worry when orders are already lower than expected due to the on-going impact of the recession."
The response to any concerns should, Paul added, be both instant and positive.
"Don't let a summer holiday time cash flow crisis become a disaster in the autumn - the quicker you seek a solution to the problem the more likely there is to be a successful outcome," he said.
Moorhead Savage website
Images: Moorhead Savage
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