Businesses in need of debt help should take advantage of free services provided by organisations that specialise in business debt. There are numerous debt charities in the UK that offer free debt advice, and some of these offer specialist advice for businesses. The Government’s Money Advice Trust also runs Debt Advice for Businesses, a service that provides free, confidential advice to companies in need of help with their finances. However, these services are only available in certain areas of the UK.

How to Know About Free Business Debt Help

The Government has released billions of pounds in funding for small businesses and self-employed people during the Coronavirus crisis. While this is a great thing, you will have to repay it one day. This will put pressure on your business’ cash flow and create a situation where you can’t repay the funds. This is when a business needs the help of a professional debt advice service. Thankfully, there are a number of government-funded businesses that can help you.

Despite being an entrepreneur, it is important to take action quickly. Never ignore a debt problem. It is in your best interests to tell your creditors about your financial difficulties as soon as possible. This will minimize the chance of a court case and keep your debt at a manageable level. As for the types of Business Debt Help UK available, this will depend on the legal status of your business. If you’re in the UK, the Money Advice Trust’s website has fact sheets and sample letters that you can download for free. The site also has a webchat service.