Member Article

Finding a cure for the summer time blues

SUMMER holidays…the perfect opportunity to get away from the stresses of working life.

But according to insolvency expert Paul Moorhead, that long anticipated break can create a whole new level of stress in its own right.

“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,” said Paul, the founder of Rotherham based insolvency and business turnaround company Moorhead Savage.

“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.

For advice from Paul and the Moorhead Savage team call 01709 331300.

This was posted in Bdaily's Members' News section by John Highfield .