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5 Easy Answers To Your Urgent Business Turnaround Questions

To know what to expect from a turnaround specialist, it is useful to understand what a turnaround is, and what a turnaround specialist does. A turnaround is everyday management, but it involves managing the process of rescuing a company in serious decline which will fail in the foreseeable future with no corrective action. Turnaround specialists […]

5 Easy Answers To Your Urgent Business Restructuring Questions

What does a business restructure mean? A corporate or business restructuring is the process of reorganising one or more aspects of a business to increase its efficiency and profitability. Restructuring is an umbrella term that encompasses four distinct groups of activities: ● Expansion ● Contraction ● Financial Restructuring ● Organisational Restructuring What are the objectives […]

What are the benefits of restructuring a company?

In Australia, company restructuring engagements are a relatively fresh approach to preserving and improving business operations, particularly for small to medium businesses. Restructuring a company involves reorganising one or more aspects of the business to increase its efficiency and profitability. Restructuring is an umbrella term that encompasses four distinct groups of activities: […]

6 Vital Answers To Your Australian Safe Harbour Insolvency Questions

What does Safe Harbour Insolvency mean? Safe Harbour allows directors to take reasonable steps to trade the company out of financial difficulty without concerns about personal liability, or unnecessary effects to the potential value of the company by prematurely appointing a voluntary administrator. It is a strategy where the directors remain in control and the […]

How can insolvency risk be reduced?

Over the last few weeks, we have seen an unprecedented amount of business closures, while businesses that are still operating are facing tougher trading and liquidity conditions. Either sales are slowing and/or cash collections have become more difficult. Consequently, a lot of companies will endure, or will face, insolvency. So, how can the risk of […]

Seven Ways to Tell If Your Corporate Turnaround Efforts Are Paying Off

The first step in any successful corporate turnaround is acknowledgement and acceptance that a turnaround process is needed, and that management has the energy and strength to work with a corporate turnaround advisor to make the changes necessary. A few weeks into a turnaround process when turnaround activity is well underway and lots of different […]

Why Construction Businesses Should Consider Safe Harbour

Construction has the highest rate of company insolvency actions of any industry in Australia. When you add in sub-contractors and sole traders, the construction industry accounts for over half of all insolvencies in Australia. The high use of sub-contracting in the industry creates a unique challenge. The client will enter into a building agreement with […]

Why Safe Harbour Will Save Your Business

In September 2017, a new piece of legislation known as the Safe Harbour provisions was added to the Corporations Act. Safe Harbour provisions give company directors protection from insolvent trading penalties and an opportunity to pursue strategies that could save their struggling business. Historically, Australian companies faced strict, creditor-centric insolvency laws where directors would call […]