Available evidence and our own studies indicate that many Company Directors or Shareholders simply leave it too late to get professional advice about how to get the business “back on track”. This quite often limits the range of options that can be pursued by a Company.
Early intervention always has been and is the key to a successful business turnaround or recovery. We strongly encourage Directors/Shareholders to seek professional advice where they believe that the business strategy may not be working. We have worked both informally and formally with many businesses in the following ways:
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Restructuring the affairs of the business by identifying the areas within it that are underperforming and therefore having a detrimental financial impact. This also involves where relevant looking at the way in which the business is financed and the working capital requirements of it;
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Developing workout strategies and setting achievement plans in order that the business’s progress can be monitored;
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Reviewing and where appropriate re-working the Company’s business plan so that key strengths, weaknesses, opportunities and risks are clearly known and understood;
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Aiding the business in ensuring that it has access to the right “people resources”;
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Negotiating arrangements with creditors in order that key changes can be implemented within the business so as to maximise the chance of it continuing into the future and therefore producing a better result for employees, financiers, trade and other creditors than is usually the case in an immediate winding up of the business.
Where possible we actively work with all the various stakeholders of a business to develop a long-term plan that enables a genuine business recovery to take place. If you are a Company Director or Shareholder and find yourself possibly in this position we would welcome your enquiry. Similarly if you have a client in this position that may benefit from the professional advice we can offer, please don’t hesitate to contact us by clicking here or ring (612) 9251 5222.