Expert Business Recovery and Restructuring Advice
If your company is struggling financially, it is essential to seek guidance as soon as possible. The quicker you act, the more options you will have available to you. Our team are specialists in all areas of business recovery and can help you move towards a brighter future.
What is Business Recovery?
Business recovery represents an opportunity for a company to chart its course out of financial difficulty. For it to succeed, you need to carry out significant research into your firm’s performance and the market as a whole. It is also important to produce a detailed plan of exactly what actions will be needed and how much time it will take.
There are several things you need to consider when preparing your business recovery plan. These include finding out how much income you need to cover your outgoings, your company’s available assets, and the potential funding options that are available to you. You should also look at whether your budget needs adjusting, if there is any scope to save money, or if your firm’s operations will require restructuring.
Warning Signs of Financial Distress
There are several key indicators that your company is struggling financially, including:
- Your outgoings are more than your company’s earnings
- You find yourself struggling to pay bills when they fall due
- You regularly receive reminders from creditors about unpaid invoices
If any of the above applies to you, it is important to seek independent advice at your earliest possible opportunity. The sooner you do so, the more options will be available.
Why Speak to a Specialist Advisor
While it is entirely possible to turn around your company’s fortunes by itself, being in financial difficulty is an incredibly stressful time. Having an independent expert review your situation can take some of the pressure off your shoulders and give you a clear perspective.
A business recovery specialist can carry out an assessment of your operations, assess your options, and provide you with a clear path out of danger.
No matter your circumstances or industry, an external advisor can point you in the right direction.
Types of Business Recovery
There are several ways in which a company can improve its financial situation and become much more profitable. Deciding what is relevant depends entirely on your individual circumstances and how soon you seek advice.
CVA
A formal procedure that creates a legally-binding agreement between a business and its creditors. If agreed, it offers a firm a clear path to being debt-free, without the threat of additional action.
Administration
Puts the business in the hands of an administrator, who decides the appropriate course of action for a struggling company. It also puts a moratorium on all legal action from creditors.
Receivership
Involves the appointment of a receiver to ensure that the company’s debts are paid. A receiver will act solely in the best interests of the firm’s creditors and work to achieve an optimal resolution.
Business Restructuring
The process of reshaping a company’s operations to reduce its debts and overheads and improve its overall performance. There are several options available, such as mergers, joint ventures, and strategic alliances.
Why Work With Inquesta
If your business is in financial difficulty, it is essential that you seek specialist guidance from a company you can trust. You need to speak to Inquesta. We have acted as consultants for firms across all areas of industry, and are perfectly placed to assist.
Our team understands that every situation is unique, which is why we will take the time to gain a thorough understanding of your business before recommending what we believe is the right solution for you. With us, you can be confident you are dealing with somebody that has your best interests at heart.
Meet the Team
Steven Wiseglass
Director of Insolvency
A co-founder of Inquesta, Steven is a licensed Insolvency Practitioner with over a decade of experience in the field. He specialises in advising directors of small to medium-sized businesses, and has a wealth of expertise in providing the most appropriate advice whatever the firm’s circumstances may be. He has also been instrumental in helping company directors save their business and rebuild them into successful enterprises.