The time to act is when:

	Cash flow is decreasing.
	Unpaid creditors are pressing.
	Accounts are unable to be paid when due.
	Your debt burden is becoming unmanageable.
	Sales and profits are down.
	You don't have a plan to boost the business.

 

What to do?

	Don't hesitate.
	Seek help.
	Renegotiate short term debt into longer term debt.
	Sell surplus or under-performing assets.
	Consider insolvency options.
	Consider the personal factor - personal insolvency has its pitfalls - don't over-extend your financial capacity.