Be prepared for tough times in 2023 / 24
During the COVID 19 pandemic many businesses across the world, particularly those in retail and hospitality, were required shut their...
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The most difficult position a business manager can find themselves in is when their business is experiencing financial difficulties and possibly heading towards failure.
Very few managers are equipped to handle these situations and even fewer have experience in this complex and demanding space. It is a time when managers are confronted with some of the most challenging decisions of their lives.
How you manage the difficulties and complexities that confront you in these difficult times will, in all likelihood, define not only the future of your business but your own future.
'Survive in Business' was established by Steve Lloyd, who has
more than 30 years' experience managing, advising and mentoring businesses experiencing financial difficulties,
to help businesses through tough times by providing information, guidance and practical advice that is relevant, easy to understand and affordable.
Our digital and remote delivery platform allows us to deliver support to businesses
over an unrestricted geographic area and
keeps our costs lower so our support and
advice can be delivered to you promptly and cost-effectively.
Most business failures can be avoided with timely action and well-planned strategies.
CASH FLOW PROBLEMS ?
One of the most common problems encountered by struggling businesses is a shortage of cash.
There are many options available to businesses to generate cash internally and from external sources.
We can assist you to critically review cash flows, develop strategies to manage cash flow and to prepare 3-way forecasts as a tool for business management and to elicit the support of financiers and creditors.
Click on the Advice button below for further details
You can also check out the ‘Publications’ tab for a comprehensive article on this topic, or to purchase the book 'Survive in Business: How to turn your struggling business around' which as a chapter dedicated to management of cash flow when your business is experiencing cash flow stress.
cash flow problems
Preparing your busines for a recession
PREPARING YOUR BUSINESS FOR A RECESSION
Economists and commentators agree that we are facing into difficullt economic times, although they cannot agree on the seriousness or duration of the downturn. Some are forecasting a recession, some expect a soft landing, and a few think we are facing into a 1930’s style economic depression or a period of stagflation.
The only thing that is certain is uncertainty.
In uncertain times, it simply is good business to be prepared for potential downside scenarios. That means building resilience into your business so that the impacts of adverse future events on your business are minimised.
Download the free article on preparing your business for a recession via the “Publications” tab
We can also help you plan and prepare your business for an economic downturn. Click the ‘Advice’ tab for further details
under pressure from creditors
UNDER PRESSURE FROM CREDITORS?
Constant calls from creditors chasing overdue payments? Tax arrears haunting you? Don’t wait to be sued or wound up.
Get on the front foot and drive workable solutions with your creditors.
We can help you develop, negotiate, and implement strategies with your creditors. Click the ‘Advice’ tab for further details.
Also Chapter 7 of the book 'Survive in Business: How to turn your struggling business around' provides strategies for managing creditors. Click on the 'Publications' tab to purchase the book
struggling with payments
STRUGGLING WITH LOAN PAYMENTS?
Debt obligations are often a major contributor to cash flow stress. Often, to alleviate these cash flow problems, it will be necessary to restructure debt by seeking more favourable loan terms, temporarily deferring or suspending loan payments or, in some cases, seeking to compromise debts. These restructuring arrangements must be acceptable to your financier. We have extensive experience in debt restructuring and debt renegotiation, including specific experience in the work out team of Australia's largest business bank. We can help you develop workable restructuring strategies for your business, prepare submissions for support and forbearance from your bank, and assist with negotiations with your bank if required.
Click the ‘Advice’ button for further details.
Chapter 11 of the book 'Survive in Business: How to turn your struggling business around' also provides detailed strategies to manage your banking relationships when your business is having financial problems.
Click on the 'Publications' tab to purchase the book.
Success is not final;
failure is not fatal:
it is the courage to continue that counts
Winston Churchill
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