This is a question that is on any businesses owners’ mind when facing financial and operational challenges that threaten the continuity of a business. When a business is struggling with cash flow and raising additional finance is proving difficult, timescales are tight for rescuing the business. So, we quite simply say, the sooner you contact us, the better chance we have of rescuing the business through a turnaround.
We recognise that when business owners/directors are in the thick of fire fighting, they won’t always have time to take a step back and assess what needs to be done. At the point we are contacted, companies are typically suffering with one or all too often, multiple indicators that are showing themselves as critical:
- Maxed-out overdraft facility
- Arrears in HMRC payments
- Supplier issues affecting delivery of own products/services
- Loss of key contracts
- Bad debts
- Staffing issues
- Balance sheet and/or turnover reduction
- Client erosion
This is where outside help can best support the management team. As well as recommending and implementing known tried and tested methods to help the business, we have a access to finance providers who can help a struggling business if a new viable plan can be identified.