Starting Out in Insolvency: A Career with Real Impact and Constant Growth
ENTERING THE BUSINESS RECOVERY INDUSTRY AT A JUNIOR LEVEL
Entering the field of insolvency is a unique opportunity to be part of a profession that plays a critical role in the UK’s financial ecosystem. At its core, business recovery and insolvency work is about protecting the interests of creditors and ensuring fair, lawful outcomes when companies can no longer meet their financial obligations.
For junior team members entering the profession, every case offers an opportunity to contribute meaningfully by learning how to apply legislation and commercial thinking in a real-world context.
Far from being a back-office role, working in insolvency is highly dynamic. Whether a company is entering administration, liquidation, or a voluntary arrangement, the outcome will depend on the accuracy, diligence, and professionalism of the people handling it — including those starting out.
WHAT SKILLS DO YOU NEED TO START IN INSOLVENCY?
You don’t need to be an expert in accounting or insolvency law from day one. Many junior professionals come into the field from diverse educational backgrounds. However, there are certain qualities that will help you hit the ground running:
Attention to Detail: You'll be dealing with financial records, legal documents, and strict compliance deadlines.
Strong Communication: Whether you're writing reports or speaking with clients, clear and professional communication is key.
Emotional Intelligence: Businesses in distress are often led by people under pressure, it’s important to stay calm and professional when discussing options.
Organisation: Managing multiple cases and deadlines demands a structured and proactive approach.
Problem-Solving Mindset: Every case brings its own unique challenges. From managing tight deadlines to resolving disputes, junior professionals must think critically and adapt quickly.
THE SKILLS YOU WILL GAIN
One of the most rewarding aspects of insolvency is the sheer breadth of skills you develop:
Legal and Financial Literacy: You'll become familiar with insolvency law, compliance requirements, and core business finance.
Client and Stakeholder Management: You’ll liaise with directors, creditors, HMRC, and sometimes employees.
Analytical Thinking: Reviewing accounts, drafting reports, and supporting business assessments hone your analytical capabilities.
Confidence in High-Pressure Situations: Insolvency is fast-paced. Over time, you learn to stay calm and effective under pressure.
INTERVIEW WITH ANTHONY VOSKOU, ADMINISTRATOR AT VOSCAP BUSINESS RECOVERY:
What did you learn in your first year working in a business recovery firm?
"In the insolvency industry there is always something new to learn. It’s like the old saying: you learn something new every day. Don’t be afraid to make mistakes and ask questions because that’s the only way you will improve."
Have you had experience communicating with clients or creditors in a professional setting? If so, how did you handle it?
"Speaking directly to directors, creditors and even HMRC can be daunting at first, but it helps to remember they are just people looking to resolve an issue much like yourself."
You’ve been recently promoted to Administrator. What does this change mean and what advice would you give to someone who aspires to achieve this?
"Administrators have more responsibility to manage their cases from start to finish. I would advise that you stay organised, always refer to diary lines and complete your tasks in advance, ensuring the managers and Insolvency Practitioners have plenty of time to review and approve what you have prepared. Before you know it, you’ll be running cases without thinking twice."
CONCLUSION: A CAREER THAT GROWS WITH YOU
Starting your career in insolvency is a chance to develop a resilient skillset while helping others navigate uncertainty. With the right mindset and support, junior roles can quickly evolve into leadership positions.
At Voscap, we believe in nurturing new talent and supporting professional development every step of the way. If you’re curious about a career in insolvency, we welcome you to reach out and learn more about our team, our values, and our mission to help UK businesses recover and rebuild.
To find out more, contact Voscap today on 020 7769 6831, or email help@voscap.co.uk.
ABOUT VOSCAP
Voscap’s primary objective is to save your business. Our team of experts’ knowledge in restructuring and turnaround assignments is invaluable when assessing the best option available to your needs. With experience spanning several decades, we have the skill and resources to provide viable solutions within all industry sectors. All organisations go through difficult times and we are here to help. From small to multi-million turnover businesses, we have dealt with the most complex of cases. We offer an initial free assessment in analysing your financial position and providing clear and precise advice making your experience a simple non-complicated process.