New online gateway to help directors of SMEs with business decisions and make sure their companies stay on the right track
The Insolvency Service has today 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:
The new information hub was developed after Insolvency Service research found that company directors wanted a single online hub to host clear and concise guidance, with signposts to more detailed guidance and support where needed. As well as direct research with company directors, the project also worked closely with teams in HMRC and Companies House, business finance specialists at Royal Bank of Scotland, and business groups including The Directors Helpline, the Institute for Turnaround (IFT), the Institute for Directors (IoD), and the Federation of Small Business (FSB) amongst others.
Leanne Webb, project lead at the Insolvency Service, said:
Jonathan Cooper from The Directors Helpline said:
Milly Camley, CEO at the Institute For Turnaround said:
Notes To Editors
The Director Information hub can be accessed at: https://www.gov.uk/guidance/director-information-hub.
The Director Information hub is the result of extensive user research undertaken with micro, small company directors and leading industry specialists. The Insolvency Service developed the project to look at ways to help directors understand their responsibilities, and offer guidance on what to do when facing financial difficulties and how to avoid pitfalls where possible. This objective was part of the Insolvency Service five-year strategy set out in 2021.