A Recovery Guide for Distressed Startups

Navigating through tough times is as crucial for a startup founder as managing periods of growth, and the experience and skills learnt will be invaluable (although it won’t feel like it at the time). If your startup is in distress, the decisions you make can significantly influence whether your business will recover or decline further. This guide is designed to provide you with the essential steps needed to stabilise a distressed situation. Before that, let’s go over your assumed duties and responsibilities as a director of a Limited Company when you are in financial distress. Financial distress occurs when a company struggles to meet or is unable to meet its financial obligations to its creditors (those that it owes money to).