Mark Ranson’s Post

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Partner at Opus Restructuring & Insolvency

We can all see the impact of local government having less funding in our local communities - whether it be in education, social care or simply the number of potholes in our roads. More councils than ever have had to issue s114 notices (effectively insolvency notices), and there are warnings that more are likely to have to do so over coming months. Councils fund a network of companies and charities in support of their objectives, and the above will have a significant effect on many of those organisations. In the attached article my colleagues review the wider effects on many stakeholders. Early advice and engagement is key to seeking the best outcome for stakeholders - and being an ostrich is no defence! If in doubt seek advice from experienced and qualified advisors. #localgovernmentfinance #charities #dontbeanostrich

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🏢 The Impact of Local Government Funding Cuts ✂️ A House of Lords report revealed that spending by local governments had been reduced by 10.4%. The majority of these cuts have filtered down to financially burden local businesses and charities. We look at the implications these spending reductions will have on the greater community: https://bit.ly/3xXxysr #OpusInsights #LocalGovernmentFunding #LocalCouncils #CharityFunding #LocalBusinesses #BusinessAdvice

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