How To Deal With A Business Debt Collector

The current recession has led to inadequate sales and out-of-control debt for many small to medium-sized businesses. Federal government statistics indicate that, in 2010 alone, delinquency rates on commercial and business loans jumped over 100%.  Business collectors are hurting, too.  Business debts assigned to them were significantly lower in 2011 than from the previous year.  Companies have literally been dropping […]

Business Debt Collection Rights

Troubled small to medium-sized companies increasingly face the reality of having to deal with business debt collectors.  These people fulfill an important function for creditors.  But as in any other area of human endeavor, there is the good and the bad.  Unfortunately, a few seem to think that they can get results by being abusive and obnoxious.   What exactly are your business debt collection rights? What can and cannot business […]

What is the Cause of a Business Failure?

I often wonder what went wrong when I hear “business failure” used to define a closed company. In my line of work, I’m always especially dismayed to discover that a favourite business has closed without warning. It has happened several times recently. I was pondering this when seeing a “Closed for Business” sign at a favourite […]

What One Thing can make the Biggest Difference to your Struggling Business?

What is the one thing that makes a difference to any struggling business?  That question was posed to me last week, by the author of a book-in-progress on small business management. The answer is clear, when you work with troubled companies.  Of course, some make it and others don’t.  The chances for success are pretty slim.  Ninty-five percent don’t make it […]

Save my Business – When I Get Around to Ask for Help

It goes without saying that this has been a tough year for many businesses.  Small to medium-sized companies that need help to recover are our bread and butter.  But the media’s emphasis on bad news has affected the mindsets of many business people, who sometimes forget that others are thriving in this economy. The frustration for us and others in our business turnaround specialty is that this […]

Your Company’s Greatest Asset

I was reminded yesterday, when visiting the annual Philadelphia Museum of Art Craft Show, that artists and crafts people are seldom aware of their greatest asset.  Given their ability to produce outstanding original work, it then has to be sold.  And that great asset is a customer list, which makes subsequent sales so much easier.  I say this because I had […]

The Best Time of Year to arrange a Business Debt Settlement?

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As we approach the year-end, this can be the best time for your company to work out a business debt settlement.  No firm likes to carry delinquent receivables into the New Year, especially when it coincides with the accounting year-end. It’s an established fact that the longer a company has to wait for a B-to-B receivable, the […]

Struggling to Stay Afloat, but want to Pay All your Business’s Creditors in Full?

I was speaking with an entrepreneur this week who is struggling to stay afloat, but wants to pay all his business creditors in full.  It’s an admirable goal, given his situation.  But it’s wishful thinking. If he holds this course, without being able to immediately boost his declining top line, he’s likely to go down like the Titanic.  And that’s […]

How Sustainable is a Business after losing its Creative Force?

How sustainable is a business, at the cutting edge in its field, after losing its founder and creative force?  Clearly, the loss of Steve Jobs has many of us wondering about its long-term impact on Apple.  His spectacular contribution has been profound, in a business that has impacted virtually all others.  But I’ve been considering a more […]

Should you file for a Business Divorce?

Sometimes, you just have to file for divorce from your troubled business.  Unless, of course, you are tempting fate by operating as a sole proprietor or partnership.  Or if you don’t have a business pre-nuptual agreement in place.  This means that you may have signed personal guarantees up to the hilt.  So if your company goes down the tubes, you go with it. In […]

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