Is your Businesses in Distress?
Over recent years there has been a significant increase in businesses getting into financial difficulty. If yours is one of these then read on!
Helping businesses just by looking for re-financing is very difficult, and often in-effective. You will normally find that funders are reluctant to take on other lenders’ problem cases. This certainly so if your business has operational issues that also need addressing. Furthermore, throwing money at a problem caused by other factors, will not give you a solution. It may simply end in your business incurring an even greater debt burden.
How we can help you to turnaround your business
Increasingly BFS has recognised that, to help with such situations requires the support of other professionals. We have close contacts with a number of Insolvency Practitioners (IPs). These are professionals who are experienced in helping businesses turn around (often referred to as Rescue & Recovery).
We will always do whatever we can to help to save your business. It has to be said, however, that it is not always possible to rescue a business. In such cases the IP may recommend liquidation of the company.
There is a definite skill to the successful restructuring of a business. It requires a combination of knowledge and experience. Firstly, however, it requires your recognition and acceptance of the fact that restructuring is necessary. Often the latter is the most difficult hurdle to overcome.
These circumstances can exist not only in a business that is at the rescue & recovery stage. They can also exist in businesses just starting to show signs of financial distress. Ones which are not yet at a critical stage.
If your business is showing any signs of such ‘distress’ then come and talk to us! With our knowledge and experience we can often, but not always, help you. On many occasions, we can recognise when there is a problem(s) with your business. We then have the knowledge and contacts to help a struggling SME to overcome those problems before they become ‘terminal’.
If you are experiencing financial problems your best option is to call us on 01327 49 779 for a ‘No-Fee’ consultation. Alternatively, e-mail us at firstname.lastname@example.org.