Small Business Insolvency · independent guidance since 1988
Small business in trouble? Your structure decides your options.
Sole traders and small companies face the same pressure but very different ways out. We work out which ones apply to you.
- Not a liquidator
- Not a trustee
- Paid by you, no one else
Private and confidential.
38 yrs
hands-on experience
1,000+
cases navigated
$50M+
in assets protected
100%
confidential, always
The first question isn’t how much you owe. It’s how your business is set up. If you’re a sole trader, the business debts are your debts, so the ways out are personal ones: a negotiated settlement, a debt agreement, a personal insolvency agreement or bankruptcy. If you trade through a company, the company owes the debt, and it has its own options. A company with total liabilities under $1 million can use Small Business Restructuring, where the director stays in control while a plan goes to creditors. Larger or more complex companies may need voluntary administration, and if trading on isn’t realistic, a liquidation handled properly. Directors still need to watch for what can follow them personally: guarantees, Director Penalty Notices and insolvent trading. We look at the structure, the numbers and the timing, then coordinate the option that fits.
Plain-English FAQ
I’m a sole trader. Can I put my business into liquidation?
No. Liquidation is only for companies. As a sole trader you and the business are the same legal person, so the business debts are yours. The options are personal ones, and bankruptcy is only one of them.
What is Small Business Restructuring?
It’s a process for companies with total liabilities under $1 million. A small business restructuring practitioner is appointed, but the director keeps running the business. A plan to pay creditors part of what they’re owed is put to them, and if creditors holding more than half the debt by value accept it, the rest of the debt is released. Tax lodgements need to be up to date and employee entitlements paid before the plan can go to creditors.
Is it too late if creditors are already chasing me?
Usually not, but the options narrow as time passes. A statutory demand, a Director Penalty Notice or a winding-up application each starts a clock. The earlier you call, the more choices you keep.
Talk it through — no cost, no pressure.
Pick a time that suits you, by phone or video. We’ll talk through your situation and your options, privately. Since 1988.
Related services