The Insolvency Service has launched a new online information hub to support company directors.
The hub hosts guidance and information on a range of business themes commonly faced by companies and aims to help company directors to push their business forward by being more aware of potential pitfalls.
It is specifically designed for directors of micro, small and medium-size limited companies, although it will also be useful to others. Directors of limited companies, unlike sole traders, must comply with certain statutory obligations. These can range from hairdressers and builders with their own companies to directors of mid-sized companies in the IT sector, for example.
Examples of the kind of advice available on the information hub include:
- understanding company finances, director duties and obligations
- how to recognise early warning signs of financial distress
- how and when limited company debts can become personal debts
For further information please select the following link Director information hub - GOV.UK (www.gov.uk)