Magazine

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 […]

Magazine

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 […]

Magazine

This is what to expect from a turnaround specialist

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 […]

Magazine

What are the signs of insolvency?

For someone that works with businesses in financial distress, determining whether a company is insolvent is almost intuitive. However, there are several signs and predictors of insolvency that different stakeholders can recognise. But first, what is insolvency?  Insolvency is a state of being insolvent, whereby a company cannot pay all of its debts, as and […]

Magazine

How do I write a business restructuring plan?

Writing a business plan when a business is in severe difficulties may seem like a luxury and an unaffordable waste of time, but it is an absolutely critical part of business restructuring. Plans help you stay organised and help you coordinate your efforts.  Developing plans is difficult. For most small business owners, their preference is […]

Magazine

COVID-19: Six ways to reshape your business

It would be an understatement to say the world has changed due to the COVID-19 pandemic. But as often is the case, it is through adversity we see a person’s real character shine, and the same holds true for business owners. So as a business owner, how can you reshape your business and emerge from […]

Magazine

COVID-19: NZ directors offered safe harbour protection

It has been interesting being a New Zealander living in Australia during the COVID-19 pandemic. There have been comments, cartoons and discussions that Australia should become the West Island of New Zealand, or that Australians wish that Jacinda Ardern could become the Australian Prime Minister (how quickly they forgot the 2018 dual citizen debacle!). There […]

Magazine

How do you avoid insolvency?

As we have seen in the last few weeks, the world is changing at light-speed. Before the world was struck by COVID-19, a large percentage (over 60%) of businesses failed and went into insolvency in the first three years.  I expect the same percentage will fail or go into insolvency in the next three months […]

Magazine

How the turnaround process works

As a turnaround advisor , when I first meet a potential client, I feel like they think I have a big magic wand, and I’ll be able to come in, wave my wand, create an instantaneous miracle that will cost them a small fortune and then disappear, leaving them with a lot of turmoil. However, this […]

Magazine

Why Friends And Family Are Oil To Water For Small Business Owners

For most small business owners their business is a large part of their life. They may have given up a 40-hour-week job to work 80 hours a week on their business. As such, either the business owner wants to talk to family and friends about their business, and/or friends and family want to talk to […]

10 REASONS TO CALL US:

  • Advice on business restructuring
  • Choose between recovery or insolvency
  • Lack of understanding of financial information
  • Analysis of profit margins and costs
  • Poor debtor collection management practices
  • A better understanding of pre-insolvency and Safe Harbour
  • Business running out of cash but has fast growth
  • Poor inventory or creditor management
  • Build a healthy and more profitable business
  • You’re a worried director dealing with financial distress