Every business has problems, problems might be small, big, frequent or less frequent, but problems are part of a business operation. The bottom line is when things go south, management needs to be prepared for the worst case scenario and act quickly.
The challenge is: you might have never been in a situation where time is an issue, cash is an issue, and creditors literally screaming at you are an issue. When times get tough, there is a need for a specialist to promptly stop the company from bleeding cash, create some visibility and gain creditors confidence back. The interesting point is the specialist is only a consultant and he also needs your help to turn things around as you are probably the person that most knows the company affairs.
In the end of the day, if your business doesn't have the financiers and staff support your company will most likely be heading to liquidation.
Our Vantage Performance team is looking forward to interacting with you again.
Regards,
Pedro Bueno
Vantage Performance Team
Turnaround Management Specialists
www.vantageperformance.com.au
25 November 2008
Does your Business need a Corporate Restructuring Specialist?
13 November 2008
Protecting Your Business during a Global Economic Slowdown
Not surprising many companies come from a more positive economic phase and enter into a downturn with weak balance sheets, high staff turnover and a lack of risk assessment.
Protective Actions to be considered during a Downturn:
• Good Financial planning
• Start questioning early your credit facilities
• Maintain a meaningful dialogue with your Bank and other major creditors
• Review your Bank charges
• Review all your Direct Debit arrangements
• Tighten up credit control, cash collection, treasury management
• Consider your current and future customers and their ability to pay
• Pay particular attention to investments and major capital expenditure
• For December year ends - be clear about Stock and WIP
• Look critically at staff requirements/recruiting strategy
• Be cautious in awarding pay rise and in setting up staff incentives schemes
• Map your sales trends
• Know your costs
• Prepare detailed monthly accounts, share key information with your Bankers
• Prepare accurate Cashflow projections and update regularly
Our Vantage Performance team is looking forward to interacting with you again.
Regards,
Pedro Bueno
Vantage Performance Team
Turnaround Management Specialists
www.vantageperformance.com.au
06 November 2008
Number of Administrations
October 2008
KordaMentha - 6
McLeod & Partners - 6
SV Partners - 6
PKF - 4
McClaren Knight - 3
Foreman Business Advisors - 2
Hall Chadwick - 2
Pilot Partners - 2
Worrells - 2
Cor Cordis - 2
Insolvency and Turnaround - 1
Ramsay Clout - 1
RE Murphy & Co - 1
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