If your business is in a financial crisis, you might well have wondered whether it is worth carrying on. What is the best way to minimise damage? Should you continue with the business, or is it simply time to throw in the towel?
It’s hard to know, and as a managing director of a business, it is a decision that only you can make. It is worth looking at your options for continuing the business. If you are able to get some kind of turnaround finance, this is a viable option. However, people will often prefer to use turnaround finance if they are able to get some kind of investment, as it can otherwise be very hard not to run into the same kinds of difficulties.
If you do decide to continue, you need to accept that you will need some kind of change in direction. You will need to make some strategic business decisions in order to do so.