Under Pressure to Find Adequate Working Capital?
For 60% of businesses, the single biggest problem today is cash-flow.
The reasons are many:
- Overdue or bad debtors
- Overtrading
- Overstocking
- Under capitalisation
- Banks reducing or withdrawing overdraft facilities
- Lenders wanting more and more security
- Income and expenditure balance is negative
- Pressure on sales and margins due to competition and market conditions
- Withdrawal of credit insurance cover on your business. Normally suppliers will only continue to supply on pro-forma basis in these circumstances.
Refinancing
With all the problems of funding a struggling business, finding extra working capital is yet another headache you have to face. We can help you by analysing your requirements, preparing a professional business plan, including budget and cash-flow projection and introducing you to potential lenders. Depending on your business and circumstances the following options may be suitable and available.
- Bank Overdraft
- Factoring
- Small Firms Loan Guarantee Scheme
- Directors/shareholders loans
- Mortgaging or re-mortgaging personal assets
- Personal Pension Funds
- Asset Refinance
- Stock or Materials Finance
- Business Angel Investment
- Venture Capital
For more information call us on 01392 314 092 or email a request using the Contact Us page.
Warning Creating more debt is not a solution if your company is not viable or needs re-structuring to survive. Book an annual Business Health Check for details or call us on 01392 314 092 for more information.
Get help from an Independent Professional
The owner of a struggling business may need to enlist the help of an independent professional in order to stop the deterioration and turn it round into a viable business with its own inherent value. Managing Change may well be beyond the owner’s skill set or maybe being too emotionally involved is inhibiting the necessary tough decisions from being made. All business situations are different and, therefore need different approaches.
The ‘Turnaround’ Process
However, there are generally many procedures that will almost always become part of the process of 'Turnaround' they are:
- Review and assess the present situation
- Develop a plan and strategy for the business
- Communicate with key employees
- Communicate with other employees
- Meet the current financial lenders
- Meet with customers
- Meet with suppliers
- Analyse successful competitors
- Identify new potential customers
- Review cash flow and cash conservation
- Install new, or update, “Control/Information” systems and procedures
- Monitor, measure, action, communicate
Business turnaround is not a 'one-off'� exercise
- New procedures should be adopted and monitored regularly with all working practices frequently reviewed.
- Consider appointing a non-executive director, to attend board/management meetings, or
- Appoint an interim manager to regularly check certain areas of the company's performance.
Book a Business Health Check
To book a business health check call 01392 314 092 or click to contact us.
Rescue. Recover. Renew. For free advice: