An IVA is a legal instrument and, as with any arrangement you make with your creditors, may effect your credit rating. But that does not mean it should have an effect on your business.
There are a number of different things to be looked into, but you should only take advice from an expert as it can get a bit complicated. There are CVAs, which are IVAs for businesses, or CVLs or a number of measures designed to pay your creditors while safeguarding your own interests as well.
It's impossible to list all the options here. I do recommend the website resource below as it has certainly helped me out.