Business Viability and Director’s Duties – Act Now or Regret It Later

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    Following the UK government announcing that England will face a second lockdown (alongside restrictions in the rest of the UK), one of the biggest challenges for most UK businesses is assessing viability given the new restrictions and that we are fast approaching the end of the Brexit transition period.

    Can your business survive another lockdown? How is it recovering from the last one? Is it ready for Brexit? How resilient is the business and its people? Should it relook at business plans now to get ready for the challenges that the rest of 2020 and then 2021 will bring?

    The UK government had refocused its COVID-19 strategy for businesses around protecting viable jobs and businesses, but in another shift of emphasis, the UK will instead face tight restrictions. The proposed Job Support Scheme will be delayed and the furlough scheme extended – but what comes next?

    The unpredictability and changing landscape creates increased risk to directors of criticism, and possibly even personal liability, if they do not act appropriately in the coming months, particularly given that the temporary suspension of wrongful trading provisions have not been extended. If the business is at risk, their own personal liability might also be at risk.

    Each business and sector will face its own unique pressures, but challenges can also come with great opportunity.

    Our interactive webinar will be hosted by Matthew Kirk, international affairs advisor, who will bring together our experts to discuss the pressure points facing business, such as managing its workforce, optimising cash flow and managing creditor pressure, accessing additional financial support, reacting to changes in supply and demand, adapting its real estate portfolio, dealing with impending changes in the tax regime, Brexit and complying with directors’ duties.


    Join us for a lively conversation to help support, assess and protect your business.

    Further Support

    Ahead of this webinar, we will circulate our updated brochure that focuses on key considerations for all businesses: cash, financial pressure points, employees, tax, Brexit and directors’ duties. This can be used as a helpful reference point to help navigate the challenges of the next few months and includes the contact details of our colleagues who can discuss your particular business needs further.