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Many banks have changed their strategy when it comes to insolvency cases. They have realised that rather than pushing businesses towards receivership, it is better to patiently wait as they try to pay off their debts. Businesses now have a better chance at paying off their debts than ever before. Banks realise that if they force companies to go out of business there aren’t buyers for such companies in the market. Insolvency cases have fallen by 17% since last year. This is a bright opportunity for SME owners who are struggling to pay their debts, to hold on to their business.
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