Social enterprises, like any businesses, can go through tough times. When those tough times start to look like insolvency (when an organisation can't pay its debts on time), directors have a legal duty to take action.
John Melluish of PCI Partners recently had the unfortunate role of having to wind up Beehive Industries after 53 years of operations. After this and many other experiences of closing down businesses that might have been saved if action had been taken earlier, John is keen to make sure that anyone running a social enterprise knows about a pathway out of insolvency called "Safe Harbour".
Safe Harbour provisions, introduced as a defence to insolvent trading in 2017, protect Directors as they explore solutions to cashflow issues. To rely on Safe Harbour provisions, organisations must follow particular steps, including getting external advice.
In case you or someone you know ever needs to turn a social enterprise around, come along to this 1 hour webinar to learn more about Safe Harbour provisions and steps - and ask all the questions you like. It might just be the knowledge you need to prevent another great social enterprise from closing.
Presenters: John Melluish of PCI Partners and Campbell Hudson of Dentons