With registered company insolvencies the highest they have been for a decade, and 50% of new businesses failing within three years, many SMEs face financial trouble; to the point of having to fold. This usually comes down to finances. Many small business owners don’t have any accounting qualifications, may never have seen a cash flow statement before, or understand the nuances in respect of tax and VAT. Michael Steed, President of AAT (Association of Accounting Technicians), shares the ‘danger’ signs small businesses need to look out for which indicate they may be in difficulty, and what they can do if they find themselves in financial trouble.