An Independent Business Review is by no means a one-size-fits-all situation. Each report is tailored to the individual company. Your review will seek to investigate the unique concerns surrounding your firm, taking into account specific challenges and issues that could present in your industry, your firm’s previous performance, future plan, etc.
A selection of other things that may be considered includes your current financial position, profit and cash flow forecasts and projections, the current value of your realisable assets, trading forecasts, business plans, market analysis, assessments of your operation, and more.
The complexity of an Independent Business Review can vary from one or two pages of detailed analysis to a lengthy report. The size will depend on the scope of the firm in question.
An Independent Business Review will also always include a conclusion, analysis of the options available going forward, as well as a practical action plan including recommendations of the best next steps for your company.
Independent Business Reviews are designed to be highly complex and comprehensive reports, including analysis of all aspects of the company in question. As a result, the management team is required to take part throughout the process so as to ensure further clarity into the day-to-day running of the business.
The aftermath of the review could result in changes to the operation, to the agreement between company and stakeholder, administrators could be appointed, and much more.