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Two years ago, the government enacted Part 26A of the Companies Act 2006. The aim was to offer protection for companies during the Covid-19 pandemic, allowing the option of arranging a sanctioned restructuring plan. This includes the possibility of a moratorium on the company’s debts. However, one aspect of this not specifically covered by the Act, and not previously tested in court, is the position of third-party gu

Many sectors of the financial world have their own independent oversight bodies. The best known is probably the FCA (Financial Conduct Authority) but similar organisations operate in various areas of finance. One notable exception, though, has been the debt enforcement sector — but that may be changing. A prominent think-tank has brought together various sides of the sector and proposed a framework for a new oversigh

The Oxford English Dictionary defines responsibility as “The state or fact of having a duty to deal with something or the state or fact of being accountable or to blame for something”, and action as “The fact or process of doing something, typically to achieve an aim, or to act or do something official or concerted to achieve an aim or deal with a problem”. The question is, how can we take responsibility for our acti

Do you ever look at all the competition from bigger companies in your sector and wonder what you’re doing challenging them? Or maybe you’re thinking of expanding into a new area and realise someone else seems to have cornered the market. Or do you look at the competition and think “So much the better”? Cornering the Market? We can all think of industry sectors where a few huge companies (or even one) have the market

About 30 years ago an organisation that today has more than 170,000 members worldwide was founded by Dr Ivan Misner. It’s called Business Network International and last year some 6,000 meetings were held every week across the globe, generating 54 million referrals that led to members doing business worth $65 million with each other. If that sounds forbidding, then it shouldn’t. Business is built on relationships of t

My business in the collections industry is built upon trust. Clients must trust me to recover their money without behaving in a manner that threatens their reputation. That trust can lead to referrals of new business when their business contacts have unpaid invoices on their books or rent overdue from tenants. Then there are the business networks that meet up and down the country ­- often for an early breakfast befor

New year 2014 is upon us and you don’t have to search very far online to find articles encouraging you to spring clean your finances. Well, it’s still winter, and often these pieces are targeted at consumers who may have overspent on the seasonal goodies. But January is a good time for small and medium enterprises to resolve to get things right in the new financial year that begins in April. For the collections indus