small business debt, who can help us?

[seriouscase]

DH has just admitted that his small business is in debt and he is very stressed about it. he needs professional help. who can help him? TIA

bump. he is terrifed he will lose his business. Anyone, please?

Don't know if there is a particular place to go re business debt, but CAB (Citizens' Advice Bureau) is probably a good place to start.

They are always the first place to go with personal debt issues - don't see why it should be different for business debts.

Sorry, that's all I can think of.

www.businesslink.gov.uk/

Does he have an accountant? They should be able to help advise. Businesslink or Federation of small business if he's a member may be able to help point him in the right direction.

Depending on circumstances, he may be able to do something like a CVA (company Voluntary arrangement), very like personal IVA, where creditors might agree he can pay just a proportion of debt off over time etc.

Am not in the UK so don't know where to seek advice, but wanted to offer you assurance that if worst comes to worst and he folds, it's not the end of the world.

A friend of mine's partner recently wound up his loss-making small business and they both said it was the most fantastic relief for him to go back to a regular salary. They said they didn't realise exactly how stressful it had been until it stopped.