When Business Goes South
Our family has owned small exporting/importing companies out of Spain and Canada for several years. Our business was mostly the sharing wine and small custom items between the two companies. Sadly, over the last couple of years the business has hit some very hard times. So much so most members in our family have had to take out personal loans to float the business in this difficult time.
We all know once the economy is better our business will once again pick right back up. This is taking a little longer than any of us have expected. A few members of our family have turned to applying for an IVA.
I had never heard of this before but after I saw the family benefiting from it I was left to wonder exactly what is an IVA? It turns out if you need help to float your business you can apply for this program to reduce your debt and help your company turn over profits much quicker. Now that we have gotten back on our feet we cannot help but be excited for the future of the business.