social_facebook_box_blue social_rss_box_orange social_twitter_box_blue tisolutions-logo iStock_000010361595Small

Business Support

It is a fact that businesses fail and for many reasons, a decreasing market, newer or improved technology, poor cash flow or strong competition are just a few of the reasons.

 

The key to surviving internal and external pressures is being both proactive and reactive. As soon as a problem is identified it needs to be dealt with quickly and efficiently, burying your head in the sand is not an option as the problem usually grows resulting in the need for more drastic and more costly solutions.

 

Dealing with these pressures can sometimes mean there is a need to restructure part of your business or in the case of more severe problems there is a need to formulate and execute a recovery plan.

Restructuring

The need to restructure is often market or customer led. Depending on the issue(s) a solution can be formulated and initiated by the management team, but in some circumstances a solution can be harder to find.

 

By understanding your business and assessing the issues we will work with you to formulate the right plan of action and we will help you implement it.

 

If there are financial pressures it may mean that restructuring will not resolve the problem and will not produce the positive result you desire. In such circumstances a recovery plan may be required to resolve the situation.

Recovery

stressed businessman

We will work with you to formulate a rescue plan, one that is workable for your business, your creditors and other stakeholders. Any rescue plan will address stability, operational turn around, the financial position including financial restructuring or re-financing and business costs.

 

Early action can save a business that is facing financial distress meaning formal insolvencysolutions can be avoided.

 

The step by step process we employ to finalise a recovery plan:-                        

arrow arrow arrow

Initial meeting with management team to assess business and current issues

Diagnose and formulate options for recovery, including short term solutions to address immediate cash flow problems

Prepare recovery plan, implement and monitor

Before we can diagnose and formulate options we will consider numerous parts of the business including a review of the current financial position, the historic and future trading positions, a look at key business drivers and an operational review.

 

A rescue plan may include any of the following:-

 

> Company Voluntary Arrangement (C.V.A.) both formal and informal

 

> Administration including Pre Packs

 

> Liquidation

 

> Joint Ventures

 

> Partnerships

 

> Changing or introducing internal systems, such as credit control

 

Men building pound sign

Our aim is to achieve the best result for the business based on what the owner or directors want together with what is possible.

Sometimes where problems have been ignored, particularly financial problems,  the only way forward is to employ a formal insolvency solution and we will work together with our panel of external Insolvency Practitioners to put in place the best solution. We will also ensure the owners/directors and their families are protected from potential problems.

 

The sooner you act the greater the solutions available and the less impact there is on your business, formal insolvency solutions can often be avoided as a result.

01752 561705

Failure does not make you a bad person or a bad businessman, as Henry Ford famously said......... "Failure is simply the opportunity to start again, this time more intelligently".

Help button

Paul Thomas trades as TISolutions - FCA license FRN 686104