Businesses all have their challenges. Whether it’s keeping up with new technological trends, recruiting new talent or keeping up with VAT payments – companies have to adapt, learn and survive in order to stay solvent. Over the past 20 years, the internet has been a force not to be reckoned with – stamping its innovative effects into every aspect of business. Some businesses have been able to evolve, take on new online technologies and stay financially healthy, paying HMRC on time and staying free of the dreaded winding up petitions. However, some companies have not been so astute and have fallen behind the fast advancements of the internet. For many, this has led to business debt, problems paying HMRC corporation tax and ultimate company liquidation.
The following infographic tells the story of how 5 industries were affected by the powerful force of the internet. Some businesses fell mercy to the internet and went into liquidation whilst others fought their way out of business debt and survived.
It was produced by CompanyDebt.com – they help business who are troubled by debt and offer business debt advice to prevent winding up petitions, liquidation and administration.
