There is nothing about a business going into Administration or Liquidation (you may know it as going bankrupt) that is pleasant.
I know – I was employed by a company many years ago that got into financial difficulties and had to be “wound up” and the impact on the business owner’s and staff’s lives was devastating.
One aspect of a business going into liquidation that is often forgotten is the importance of all assets being identified and sold off as quickly as possible because this means that the business owners are left with a smaller debt to repay once the business finally closes it’s doors.
By using BookPals, asset records and associated documentation will be easily accessible and this will allow Liquidators to get on with the job of reducing the burden and stress already being faced by the business owners quickly and efficiently.
We hope that you are never in this situation, however, if the day comes when this aspect of business life impacts on you, we hope that this BookPals Business Sanity podcast update is of benefit to you.