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Bringing business back to reality post-Covid

Covid-19 restrictions saw the UK Government issue a number of provisions for firms that needed additional support. Besides having access to generous loans, companies were also able to put a pause on debt repayments. As the provisions wind down, fraudulent businesses are exploited and some businesses face the harsh reality of being back on their own

In the words of UK accountancy firm Crowe, “one of the strangest aspects of the Covid-19 pandemic has been the low number of corporate insolvencies over the last 18 months”. Begbies Traynor’s latest ‘red flag’ research supports this perplexity, suggesting that “the number of businesses in significant financial distress has fallen 14% since Q2 2021”.

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