Small Business

Winding Up Petition – Consequences For Your Business

Winding up petitions are being increasingly used as an aid to business debt collection because of the serious consequences for a company if they are ignored. If you receive a winding up petition it is vital to act quickly or risk losing your business.

The Winding up process is used to force the closure of a business where there is outstanding unpaid debt. The creditor must first issue a statutory demand for the payment of their debt. Where this is not resolved within 21 days, a petition for the winding up or closure of the business can be issued.

When a winding up petition is granted by the court, the company in question will be liquidated. The directors of the company can of course challenge the petition. However, once a winding petition is issued, there will be serious consequences for the business even if the debt owed is subsequently paid or successfully challenged.

Bank account frozen

Seven days after a winding up petition is issued, notice of this will be publicised in the London Gazette. Almost without exception the banks will pick up on this and freeze the bank account of the company. This means that cash cannot be paid into the account and payments cannot be made.

In addition to its bank accounts being frozen, the company is legally prevented from selling any assets or property. As such it is extremely difficult for the company to continue to trade.

If your company receives a winding up petition, there are certain actions that you can take:

Validation Order

It may be possible to unfreeze the company bank account to make specific payments, for example staff wages. However, this can only be achieved with the specific agreement of the court. If the court agrees that the transaction can take place, it will issue a validation order to this effect. The cost of applying for a validation order will have to be borne by the company directors.

Company Rescue

The implementation of a company rescue solution such as company voluntary arrangement or administration will automatically stop all current court action being taken against a company. As such a winding up petition would automatically be overturned.

If your business is in receipt of a winding up petition, the business rescue solution you will normally consider is a company voluntary arrangement. This solution will enable the directors to retain control of the management of the business unlike administration where the directors will lose control.

Unfortunately, the option of pre-pack administration or phoenixing is not available as this requires the sale of company assets and this transaction cannot be undertaken once a winding up petition has been issued without a validation order from the court.

Given the serious implications of receiving a winding up petition, the best thing is to avoid this situation all together. However, if one of your creditors issues your company with a statutory demand or you are actually in receipt of a winding up petition, it is very important that you take specialist advice as soon as possible.

There are actions you can take to prevent your business being wound up. However, these options will diminish unless you act quickly.

Purchasing a Business That Inspires You

Are you in the market to acquire an existing business and wonder how to finalize your selection? After weighing all the pros and cons of the businesses that most interest you there is one important consideration that is often left off the list. Does the opportunity inspire you? Do the products or services they offer engage your imagination so that you catch yourself daydreaming about how to make things better? Is your blood pumping with excitement at the possibilities?

One of the biggest mistakes in purchasing a business is limiting your decision merely to the practical aspects such as the balance sheet, cash flow, customer base, and geographic location. The fact is, when you acquire a business, you are entering into what in all likelihood will be a long-term relationship and you are more apt to realize meaning and accomplishment from that relationship if you are passionate about it.

That is not to say you shouldn’t conduct due diligence to make sure the business is healthy, has a positive cash flow, and that you can visualize expanding its niche market. Proving the solvency of the business is essential. The last thing you want is to make a decision based solely on what you think the business can do, especially if it is not currently turning a profit. However, all things being equal, you may want to acquire a business where you can apply your unique skill set while meeting the challenge of growing your business acumen in a dynamic and interesting industry that you may or may not have specific experience to apply.

When planning your future, the last thing you want is to own a business that, while stable and profitable, fails to capture your enthusiasm and ignite your vision. Faced with a purchase decision, imagine yourself at the same company one year, 5 years, and 10 years into the future. If the thought of walking through those doors every morning for an extended period fills you with dread, you may want to reconsider.

On the other hand, it is equally important not to overestimate your ability to manage the business you are considering. It is important to sit down with a trusted advisor such as a business broker and honestly assess your skills so that you can eliminate the potential of getting in over your head. Leadership is a critical skill to possess, particularly after the purchase and during the transition period. Employees, vendors, and customers will be watching closely and their continued loyalty to the business will depend on the leadership style you display.

Buying a new business should be an exciting proposition that promises to offer you a lasting career. Take the time necessary to make sure everything looks good on paper and that it feels like a good fit at the same time.

Benefits When You Print Your Own Postage

Developed in conjunction with the United States Postal Service?, Print stamps is a software-based service that allows you to calculate and print USPS postage right from your PC, with no additional hardware required, mind you. they even keep track of all your postal spending using your client codes and can even recommend optimal delivery methods, formats and more.

The free software provided will connect you via internet to your Postage Account. When you print your own postage, the postage amount will be deducted from your account. There’s never a surcharge. The only thing you have to do is pay a monthly fee to use the service and its many time-saving features.

Some of these features include:

The ability to import delivery addresses automatically from your MS Outlook and many other popular address books and contact management software. You can add or edit addresses anytime and even print your own postage directly from MS Word, Outlook and Corel WordPerfect.?

A digital scale to weigh your envelope or package, and then input the weight into your postage.

Calculate and print the exact postage along with an estimate of the delivery time of all available USPS services. They use the USPS database to validate your delivery address to ensure fast, accurate delivery. They can even send an email to the recipient to inform them that the package is on its way.

With the option to print your own postage, it can help you to save time, save money, increase your efficiency, have more control of your mailing and shipping, create a more professional appearance, and utilize more advanced, powerful shipping features. More of these features and benefits include:

If you want to save time, you will be able to calculate and print postage 24 hours a day, 7 days a week, eliminate long trips to the Post Office, print addresses and postage in one simple step, and verify addresses automatically.

For saving money, you can save 80% over the cost of a postage meter, print exact postage every time and never overpay, and client billing codes to track spending.

For increased efficiency, you can send Certified Mail- & Return Receipt- without USPS forms; get help with choosing the best delivery method, print addresses from Microsoft Word? documents, and import from your PC address books.

To get a more professional appearance, you can get rid of sloppy, handwritten addresses, add graphics and logos for a more customized look, and simply make your mail and packages look more official.

Whether or not you send mail everyday or every so often, the benefits if you print your own postage are obvious. Simply apply your postage and hand the mail piece to your postal carrier or drop it in any post office mailbox.

Why You Should Use Computer Valley For Your Hi Tech Requirements

Stepping into a computer store with the idea of buying a new computer or software can be at times intimidating, especially if you’re not an IT expert or a computer geek who knows it all. That’s why staff at Computer Valley strives to do their best to put you at ease and help you to find exactly what you need.

If you need advice before the sale or after you buy their products, industry professionals who are experts on computer related items and services will be on hand to offer you their expertise. They will help you select from over hundreds of name brand hardware and software computer products that have been received directly from the manufacturers to suit your corporate or personal needs in keeping with your budgetary considerations.

Whatever your level of expertise, whether you’re a beginner or well versed in the use of computers and irrespective of your requirement of a single computer or a bulk order, Computer Valley is committed to offer you complete satisfaction. You will also be able to purchase everything you need from their one stop online store conveniently and quickly from the comfort of your home or office and your e-mail queries will be replied within one hour and not later than six hours during business hours.

You will not only be amazed by the incredible deals and special offers at Computer Valley online stores, but also by the huge range of products they stock from PCs to laptops, graphics cards, memory, software, hardware as well as printers and monitors that will simply bowl you over; especially when you see the range of industry giants as well as little known brands that you’re not likely to find at most other computer stores.

It doesn’t stop there because Computer Valley can also help you to build or customize your very own PC from scratch or assist you to purchase whatever components and accessories you need to design and build your own server system. Their website provides descriptive product information and clear images of items in their store and if you’re not sure about any particular product or wish to find out about the compatibility aspects of certain components, you only need to make a query from the staff that will be only too happy to offer you their help and advice.

Making your purchase from Computer Valley couldn’t be easier by using the site’s fully secure payment process which is extremely flexible and can be done through any major credit card. Shipping products to any destination; even to rural areas pose no problem to them. They not only offer very low shipping rates to their customers but in most instances the goods are shipped the very next day to your home or office and your order will be delivered directly to your door step.

This site is great examples of an online computer store where you can find everything you want in the way of computers, software and peripherals; all in one store. At Computer Valley they aim to provide you with all your hi-tech requirements that are of the highest quality but sold at budgetary prices. They strive to provide you with excellent service and you can rely on them without a shadow of doubt because they guarantee satisfaction with regard to their IT products and services.

A Brief Overview Of Plastic Injection Moulding

The idea about plastic injection moulding is not entirely fresh and new. It has existed since 1870s and it has made the plastic industry earn billions of dollars each year. The introduction of plastic injection moulding has made the industry best in what it does.

What is the principle behind plastic injection moulding? There are two materials that are involved in the injection moulding process namely ? thermoplastics and thermosetting plastics. Examples of thermosetting plastics are Epoxy and Phenolic while nylon and polyethylene are examples of thermoplastics. The plastics are liquefied and placed into the heated barrel where they are mixed and form a mold cavity, which is cooled down and hardened.

The machine used in the process consists of reciprocate screws that are required to mix the granules. There is also the presence of a moveable pattern and this is responsible for molding the plastic into the shape desired. All of this takes place in the clamping part. Injection moulding is applied in many components for many vehicles.

The production of plastic injection moulding can be done through cheap tooling. Production can be made from bottle caps, containers, home appliances and plastic combs among many others. If you want to produce products in large volume, the only way that you can do this is through injection moulding. This is also considered as the most common method in manufacturing. It does not entail pricey labor costs and the materials you need are relatively inexpensive. You can also minimize your scrap losses and there will be the development of high tolerance during the manufacturing.

Injection moulders make use of different materials in order to produce huge amount of products. In the early 1990s there are about 18000 materials used in the process and it increases in increment of 750 each year. Product designers are allowed to choose the materials.

It is great to take advantage of the cheap tooling feature of this manufacturing technique. The only things required would be the proper selection of materials based on the strength as well as overall function expected on the final part. Different parameters for production should also be taken into account.