James Mills is a web developer in the North East of England and founder of Refresh Teesside »
Mike Hughes is the Head of Business for the Evening Gazette. He will be blogging on all matters of importance to Teesside businesses - and some that are just worth knowing »
Jez Davison, business writer at the Evening Gazette, is a regular blogger on all things business - particularly finance, entrepreneurship and the state of the Teesside economy » 
Karen McLauchlan is the Evening Gazette's deputy business and features editor - with special interest in all things industry, property and arts related » 
Jeremy Middleton is a venture capitalist and the co-founder of FTSE-200 company HomeServe » 
Deloitte, which has 23 offices across the UK including Newcastle, is among the country's leading professional services firms » 
ClimateNE & Climate Change Schools Project support the move to a low-carbon, resilient economy and help businesses avoid risk and realise commercial opportunities. Posts by Jen Atkinson, Krista McKinzey and Harriet Thew » A lot can happen in business in ten minutes. Deals can be struck up, emergency loans can be given or an entire workforce can be laid off. One story I covered recently told how a business was saved from extinction in just ten minutes - no mean feat I'm sure you'll agree.
The North-East firm was rescued from disappearing from the face of the earth by a consortium who placed it into administration for ten minutes as part of a pre-packaged deal.
Within minutes, the firm's debts were cleared and the jobs of its workforce were secured.
But what several readers were keen to remind me was that, while the story was clearly good news for staff and management at the firm, it was indicative of a severe flaw to the British corporate set-up.
Several people contacted me to tell me the fact that contractors or clients can see money they are owed disappear into thin air within minutes is huge problem with the system which needs to be addressed.
So what do you think needs to be done to address this issue and is there enough support available for those businesses which lose out when others are saved?
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