Turnaround Management is the process of turning a business around. Usually, the business is in a state of distress where the risk of failure or even closure is high. ibv then work with the existing management team, we act quickly, and we assess the issues being faced. We have experience to spot the root causes and diagnose problems quickly. The first steps in turning your business around are to establish “what is” and “what is not” the problem.
Once we’ve have diagnosed the main problem areas, we put together a plan and address them. We know how to get things moving, and start to turn the business round. Getting agreement and buy-in for implementation plans is at the core of Business Turnaround. Buy-in is always required from Directors, managers and staff, and usually 3rd parties including banks and investors, customers and suppliers, HMRC and landlords. Successful implementation is the key to business survival, things have to be addressed head on, and quick actions are usually required to achieve the plan and ensure the business can move forwards.
When a business experiences financial distress it can often be difficult for the owners and managers to be objective about its prospects for survival. We work with you to ensure that value is retained and ultimately enhanced. Our experience and objectivity means we can often identify restructuring or refinancing opportunities that have gone unnoticed.
We will work with you to develop an achievable rescue plan for your business, which may include some or all of the following:
Many business owners do not face up to the problems being faced by their business, you must face reality if there are problems as by addressing them and taking advice could mean the difference between your business surviving or not.