Finding a way through the pandemic
Updated: Jun 3, 2020
Job Keeper, Rent Relief, Interest Deferral and other financial support available in the current crisis provide welcome, temporary reductions in cash outflows. This applies to businesses suffering from an unexpected fall in revenue.
However, putting off essential restructuring steps until the special financial support ends is a recipe for disaster.
For example, Directors often have provided personal guarantees for rent and to key suppliers. Allowing these debts to pile up can therefore put Directors at risk of bankruptcy if the business is unable to eventually pay them.
We offer an additional independent perspective and may be able to suggest steps to keep you in control of your business.
We are here to help with informal solutions.
There are many questions that people are asking such as:
How can we navigate the crisis?
When/will things start getting back to normal?
How can I manage cash flow?
If things will be forever different what will be the new normal? Now is a good time to take a thorough look at all aspects of your business to determine its optimal structure in order to survive the current crisis and to thrive into the future.
It can be difficult when you’ve put your heart and soul into a business to look at things in a dispassionate and objective way.
Independent professional advice can help inform your decisions and achieve better outcomes for your business. Greatworth Advisory are experts in restructuring and provide independent expert advice. Give us a call on (03) 9896 9000 today.