Having helped both individuals and businesses throughout the UK for almost a decade now, the Leeds, Harrogate, Bradford and Darlington-based teams here at Walsh Taylor understand the stress that financial pressure can bring.

The onset of financial pressure can often result in failings in other areas of a business. As all available time and energy is taken up with dealing with the problem areas, product quality, customer care and staff morale can all decrease. The company then enters a vicious cycle, and one where resolving all company’s problems can seem insurmountable. Addressing issues and getting help early on increase the chances of a positive outcome.

Though each organisation is in a different situation, there are several tips that can help when dealing with financial pressure.

Here are just a few of these:

Identify what the real problem is

Before injecting more capital into a business that is struggling it is important to identify what is the real cause of the issue. Is it poor quality control or customer service or inefficient use of resources? Insufficient sales volume is often stated as the reason behind financial pressure but in some cases the issue can be more deep seated.

Review business costs

When working with clients to restructure their companies for a strong future, our licensed insolvency practitioners at Walsh Taylor evaluate the triggers that initially caused the financial pressures to mount. One that commonly arises during this process is business costs. Changing suppliers, cancelling services that are no longer required or reducing spend on supplies can provide some quick wins.

Be realistic and plan

When tackling the causes of financial pressures, be honest and realistic on what can be achieved in and in what time frame. Setting unrealistic goals will only increase stress and pressure on the team. It is easy for directors to feel like they are constantly ‘firefighting’, i.e. going from one task to the other whilst simply trying their best to keep up.  Investing some time to plan and delegate where possible will result in more being achieved.

Small steps make a difference

Often the culmination of issues that need to be resolved seems overwhelming. But small changes and improvements do make a difference and can also have a positive effect on staff morale.

Get the help you need

Business owners can tend to be unsure of what to do first when they find themselves under financial pressure. The earlier help is sought the greater the options available to the business. Walsh Taylor has assisted hundreds of businesses over the last ten years and has a reputation for providing bespoke solutions to businesses across Yorkshire and the North East.

There is no charge for our first meeting or initial advice, so if you are in need of Walsh Taylor’s assistance, please do not hesitate to call today on 03300 244 660.

Mary Taylor
Director

Mary began working in insolvency for a national accountancy practice in Glasgow thirty years ago and worked in most divisions of the insolvency department.

She then moved to a smaller firm so she could advance her knowledge on a more hands on basis. She moved back to Leeds in 1987 and commenced working with a small firm of accountants and subsequently made partner.

She left in 1999 to set up her own practice, McCann Taylor.
McCann Taylor became involved with the consumer market both in England and Scotland.

Mary sold McCann Taylor in March 2007 and formed Walsh Taylor to concentrate on helping businesses experiencing financial difficulties.

Kate Ellis (neé Breese)
Insolvency Practitioner

Kate has worked in insolvency since 2001 starting out at a firm of solicitors in Leeds and latterly gaining positions within two national accountancy firms.

During this time Kate gained extensive experience in all aspects of personal and corporate insolvency, for the first part of her career specializing in personal insolvency and latterly corporate.

Kate has been with Walsh Taylor since its incorporation in September 2008.

Kate is CPI and JIEB qualified, is experienced in a variety of industries and sectors and is the firm’s joint appointment taker.

Meg Heath
Director

Meg has a background in supporting SMEs, including the raising of finance and advising on organisational change. She is a non-executive director of companies in the private and third sector, including Walsh Taylor.

Previously she was Deputy Fund Director of one of the largest CDFIs in the UK, and has experience of the social enterprise, charity and private sectors. Her experience of assisting companies to survive and thrive has been gained across a broad range of sectors and in companies of all sizes.

In addition to her work at Walsh Taylor she works for other private companies, including non-executive and trustee positions.

Emma Mifsud
Insolvency Practitioner

After graduating from Leeds University in 2005 with a BA Hons degree in Criminology, Emma worked for a regional law firm in both the property department and insolvency and banking department. Whilst doing so Emma gained a Graduate Diploma in Law at BPP University.

Emma then joined a national accountancy firm in 2009 gaining experience in personal insolvency before moving to a Leeds based firm. At this firm Emma specialised in bankruptcies, IVA’s and negotiating informal agreements with creditors. In 2013 Emma gained her CPI qualification.

Since joining the firm in December 2013, Emma has taken on a portfolio of personal and corporate insolvency cases to extend her knowledge and expertise in all areas of insolvency.

In December 2017 Emma become a licensed appointment taker under the Insolvency Practitioners Association, she is JIEB qualified.

Walsh Taylor Finding workable solutions for your financial problems
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