What Happens When You Seek Financial Advice
Running a business under pressure can be difficult, but for many directors, the biggest source of stress is uncertainty.
Not knowing what will happen, what your options are, or what seeking advice might involve can make situations feel far more overwhelming.
In reality, seeking financial advice is often much more straightforward than expected, and for many business owners, it’s the point at which things start to feel clearer.
In the run-up to Mental Health Awareness Week (Monday 11 – Sunday 17 May), we spoke to Insolvency Practitioners Rishi Karia and Lisa Thomas about what actually happens when directors take that first step…
What changes after that first conversation
For many, the hardest part is not the conversation itself – it’s everything leading up to it.
The uncertainty, the anticipation and the fear of the unknown can make taking that first step feel far more daunting than it needs to be…
What difference do you see in someone before vs after that first conversation?
Rishi Karia: “One of the best parts of working in the profession is when clients walk out of your office with a much better understanding of their options and the likely outcomes. Once you’re aware of the options, making the best-informed decision becomes easier, whereas making decisions in the dark is daunting.”
Lisa Thomas: “They are often relieved to have finally made the decision to call it a day and liquidate. It’s like a burden has been lifted. I once gave advice to someone who looked physically ill from stress. When I next met him a couple of weeks later, he was a completely different person: he looked so much healthier, and his family said he was a different man.”
Why understanding your options reduces stress
In many cases, it’s not just the situation itself that creates stress: it’s the lack of clarity around it. When directors don’t fully understand their options, it can lead to hesitation, overthinking and prolonged pressure. Without a clear sense of what comes next, even relatively manageable situations can begin to feel more complex and overwhelming than they need to be.
Does simply understanding their options help reduce stress?
Rishi Karia: “Massively, it should not be underestimated.”
Lisa Thomas: “Yes. Often, they have procrastinated because they didn’t understand the options available and the ramifications of those. I can explain those options in plain English, without any jargon, so they can make an informed decision on how best to move forward.”
Where the sense of relief comes from
One of the most noticeable shifts after that first conversation is a sense of relief.
That relief often comes not just from understanding the situation, but from knowing that the responsibility doesn’t have to be carried alone.
What part of the process usually gives people the most relief?
Rishi Karia: “Understanding that even if their company fails, it could leave them in a position where they can move forward from, rather than continuing to sink.”
Lisa Thomas: “They can rely on us to take control. We can inform the staff of their redundancies, if required, and we can liaise with the company’s creditors, releasing that pressure.”
How quickly things start to feel more manageable
For many directors, the expectation is that resolving financial pressure will take time.
But in reality, the emotional shift often happens much sooner. Simply understanding their position and knowing what options are available can quickly replace uncertainty with a sense of clarity and control.
How quickly can someone start to feel more in control?
Rishi Karia: “The stress is reduced following an initial conversation. The control comes back following an initial meeting, as they know the options of how to move forward.”
Lisa Thomas: “Usually, once they have made the decision to instruct us, the stress appears to reduce.”
What people say afterwards
Once that first step has been taken, the perspective often changes.
The hesitation that once felt justified is replaced by clarity, and with that clarity often comes a sense of relief. Many directors say the same thing: they wish they had spoken to someone sooner.
What do people say after that first meeting?
Rishi Karia: “They wish they had met earlier and are hugely grateful for the information and clarity provided, particularly given initial meetings are without charge and with no obligation, simply to help directors make informed decisions.”
Lisa Thomas: “They are grateful and glad they spoke with me. It’s taken a weight off their shoulders.”
A final thought
What comes through clearly is that seeking financial advice gives you a clearer understanding of your position and a sense of what comes next. In turn, that clarity reduces uncertainty, often the biggest source of stress, and helps make the situation feel more manageable.
Many directors:
- Delay because they fear the unknown
- Assume the worst
- Carry the pressure alone
But in reality:
- The first conversation is often straightforward
- Understanding your options brings clarity
- And that clarity can significantly reduce stress
Take the first step
If you’re unsure about your situation, you don’t need to have all the answers before reaching out.
Taking that first step can feel difficult, but it’s often the moment things start to feel clearer.
Start with our free Business Health Check or speak to our team in confidence: www.parkerandrews.co.uk
