Business Turnaround Advisor

A fall in customer interest, lower sales and increases in costs are common business concerns at the moment.

As an accountancy firm we are committed to supporting businesses facing financial challenges. We analyse the financial situation of the company, identify underlying issues, and collaborate with the directors to restore stability. By conducting a comprehensive assessment of financial health, we can pinpoint areas of financial concern, recommend cost-saving measures, and assist in effective debt management. Should a recovery plan be necessary, we will help you develop one that ensures sufficient cash flow for ongoing operations and explores opportunities for future growth. Additionally, we explain the issues that are relevant to stakeholders.

The initial step is an in-depth review of the company's financial records. This includes examining statements, cash flow, and key performance indicators to determine whether issues such as cash shortages or excessive costs are present. Once the root causes are identified, we provide guidance on improving cash flow. We also assist in establishing realistic budgets and monitoring expenditures to prevent unnecessary spending. In situations where liquidity is particularly constrained, we can support the directors in securing loans or identifying alternative funding sources. Our external perspective allows us to offer impartial advice during difficult periods.

Regarding cost reduction, we conduct a thorough review of expenditure and help develop a budget tailored to the company's current requirements, rather than relying on historical figures. By using appropriate software, the company's management can monitor spending in real time and address issues proactively. Regular reviews enable the directors to assess the effectiveness of their strategies and make necessary adjustments. For significant cost centres such as labour costs, utilities, and inventory, we track relevant metrics, such as overtime expenses, to optimize resource allocation. We set up  Key Performance Indicators to monitor progress. Our approach to cost reduction includes expense analysis, benchmarking and ongoing monitoring.

We assist with informal financial restructuring as a flexible way for businesses to address financial challenges. It involves making significant changes to improve efficiency, profitability, and cash flow. Informal restructuring has the aim of stabilizing the company.

We prepare a recovery plan that is specific to the company. This process begins with a detailed analysis of the areas experiencing difficulties, followed by the development of immediate and long-term solutions. We are on hand during the implementation of the plan, maintaining communication with all parties, and establishing mechanisms to measure progress. We assist with strategic reviews of products, pricing, and marketing, to put the company in a good position for sustainable growth.