When business health meets mental health

Mental health awareness has been brought to the forefront with the recent pandemic and latterly the cost of living crisis/recession. We all know that prolonged periods of stress can lead to an adverse impact on mental health and to a longer-term anxious state. When life is uncertain, the added pressure on a business owner’s shoulders to manage the operational aspects of a business and keep a tight eye on the finances, can be overwhelming.

One side of insolvency which many people do not see, is that we often deal with owner-managers who are under great strain. Often, their families are also suffering financially and/or mentally due to the knock-on effects of the difficulties within the business.  

Providing them with choices and alternate routes to take the business can significantly ease their burden.  

One of our recent clients whose business was impacted by Covid comments:

“Throughout the latter part of the Covid pandemic, my business was really struggling, and as an only Director, I was not sure of the best way forward, whether I really had any options and was concerned about how any decision would impact my staff and clients.  I spoke to Hayley who explained the various options available to me and the implications of each in a clear and informative way.

In these scenarios, it is paramount to seek the correct advice from experienced professionals who not only understand the regulations and law, but also know the practical impact of the options available.