Page 5: Conclusion
In a business world, which is always changing, business failure is an everyday event. However, it is vital to minimise the negative effects.
The Insolvency Service plays a crucial role. It creates the frameworks and processes for helping honest enterprises and individuals to get a fresh start from the problems of insolvency.
At the same time it seeks to punish and eliminate dishonest practice and to protect the public and commercial community. By doing this the Insolvency Service helps to ensure the commercial framework in England and Wales is fair and competitive.