We held our second live Insolvency and Business Webinar on Friday 22nd October.

We were fortunate enough to have special guest speaker Parliamentary Under Secretary of State Lord Callanan.

Watch it here or visit our webinar page here

The following figures are part of a monthly series published by the Insolvency Services to supplement quarterly National Statistics, with the aim of providing more up to date information as we rebuild from the effects of COVID-19.

During the pandemic overall numbers of company and individual insolvencies were low however CVL numbers are now at their highest and resemble what it was like pre-pandemic. The numbers for other insolvency procedures still remain lower however this is likely to be partly driven by government measures that were put in place to support businesses and individuals during the pandemic which are now coming to an end or have already ended.

England and Wales, September 2020 to September 2021, Not seasonally adjusted

There were 1,446 registered company insolvencies in September 2021 in England & Wales

• 56% higher than the number registered in the same month in the previous year (928 in September 2020)
• 4% lower than the number registered two years previously (1,510 in September 2019).

These figures are made up as follows:

Creditors Voluntary Liquidations = 1,328 (80% higher than in September 2020 and 21% higher than September 2019)
Compulsory liquidations = 25 (49% lower than 2020 and 89% lower than 2019)
Administrations = 81 (26% lower than 2020 and 45% lower than 2019)
Company Voluntary Arrangements = 12 (61% lower than 2020 and 45% lower than 2019)

Detailed figures and information of monthly company insolvency data for England & Wales can be found at the Insolvency Service here


Could a Moratorium give you the necessary breathing space to save your business?  Find out  here.   


Insolvency Procedures explained - click each link below:

Company Voluntary Liquidation (CVL)
Compulsory Liquidations or winding up by the court
Company Voluntary Arrangement (CVA)
Company Administration 

Hannah and Jane in our marketing team attended the Woking Means Business Exhibition on Wednesday 13th October 2021, here's what Hannah had to say about the event.

I have never done an exhibition before but Jane and myself decided that as we'd been working from home for so long  we should get out and get the business name back out to the local area. But the thought of having a stand in an exhibition full of other businesses was very daunting!

"Its all about the prep" they said to us, so off we went to a training conference by Paul Webster from Webster Consultancy part of Woking Chamber of Commerce who took us through all the do's and don'ts of how to exhibit.  We came away with a ton of ideas and inspiration and set ourselves a to do list ready for the exhibition in a few weeks time.

Meanwhile as the days ticked on, we got booklets and stationery ready for the big day but we still hadn't come up with something to attract people to our stand; Paul had suggested we use cakes or chocolates. Then Jane came across an old overhead projector, she called me and said how about we use this for the exhibition and that was it, our lightbulb moment. Yes, absolutely I said!

Before we knew it the day of the exhibition was upon us, we had been to the venue the day before to set up and left everything ready to go including the well positioned overhead projector but a mix up in stands meant we unknowingly left the stand with no power and a very bright light. Now anyone who knows their overhead projectors knows that bright light is not going to do any presentation any favours!
On the morning of the exhibition, with no power we thought we were going to have to put the overhead projector back on the rubbish pile but instead we managed to get the show to kindly add in our missing power supply and hey presto the overhead projector was back in action again.

It then became our talking point as many people literally did a double take every time they walked passed our stand not believing their eyes!  "Surely that isn't an overhead projector....."  "I havent seen one of those in years!"

I instantly went from being apprehensive about talking to business owners to feeling totally at ease and remembering they are just people. Before the exhibition I was very focused on the fact I didn't know all the technical information about each department here at turpin barker armstrong when actually just chatting and getting to know other local businesses was far more valuable than just trying to go in with a "this is what we do" hard sell.

It was great to see so many different businesses at the expo and we hope to work with as many of you as possible.

Thank you to Woking Chamber of Commerce for organising such a great event despite how cold the room was!

If you are interested in any of the services we provide or how we may work with your business please visit our main website here

Below is a few photos of our stand and most importantly our overhead projector in all its glory!
   

The new Household Support Fund will be available for vulnerable households to help them with essentials during the next few months. The fund will be made available to Local Authorities in October and is set to help with things like food, clothing and utilities.
 
The Government is still focused on ensuring more people are in work as well as now providing for those in the greatest need whilst we get through the stages of recovery from the Covid pandemic.

Chancellor of the Exchequer, Rishi Sunak said:
"Everyone should be able to afford the essentials, and we are committed to ensuring that is the case.

Our new Household Support Fund will provide a lifeline for those at risk of struggling to keep up with their bills over the winter, adding to the support the government is already providing to help people with the cost of living."

For more information on the new Household Support Fund please read the gov.uk article here