At the weekend the FT quoted a Bank of England study that “a third of the UK’s small businesses are classed as highly indebted”

It should come as no surprise that the emergency loan schemes provided during lockdown have increased debt levels across the business community.

The key question is whether that debt is serviceable, and how business owners and banks respond to the challenges that will inevitably result in the coming months.

My advice is to concentrate on good communication – accurate and timely – with the decision-makers within the banks.

Normally you will find supportive bank officers looking to help, but if this is not the case, find an experienced advisor. They will be able to negotiate the choppy waters inside big banks to identify and deliver the best outcome for your situation.