As the global macroeconomic picture becomes increasingly delicate, it is anticipated that many businesses will look to restructure their financial position and potentially make use of formal insolvency tools. Indeed, whilst insolvency appointments for 2021 and 2022 have been below long-term averages, appointments in 2023 are widely expected to surpass this. 

Against that backdrop it is all the more critical for all businesses closely to monitor their financial health in order to minimise costs and increase their resilience. In particular, businesses might want to consider: