A business that recognises signals of decline in the early stages can be revitalised more quickly, ridding itself of debt, strengthening its competitive position and increasing its chances of corporate recovery
Rescue is our top priority. The key is sooner rather than later!!
Whether it is a temporary cash flow problem or you are facing a winding-up petition, we will work with you in developing proposals to safeguard your business. Facing up to the fact that your business is in financial difficulty is one of the toughest realisations in any business
Speed is crucial to the process of trying to rescue your company MMC will sit down with the management of the business and identify key factors that may well generate improvements in cash flow and profits.
In today’s current economic climate we can see that more and more businesses are finding themselves in difficult situations where sales are falling, costs are rising and creditors are getting more agitated. In these times it is worthwhile considering a turnaround approach.
A turnaround is a sustained positive change in the performance of a business to achieve improved cash flow and increased profitability. Several key elements contribute to a successful business turnaround, the most important of which is that the business has a sound core which can be saved; this means a saleable product or service, a proven market, operating assets and capable staff and management.
Generally, turning a failing business around takes a specialist approach and there are many factors involved but a few key pointers are as follows:
- How can the business survive?
- Speed is of the essence
- Financial Plan
MMC will take a thorough look at all aspects of your business and come up with an appraisal of the business, its chances of survival and future success.
We will be able to tell you what efficiencies need to be introduced to create a more sustainable business.
A failing company is losing money and the longer it goes on the more serious the situation becomes. By acting quickly you will stem the losses and allow some much needed breathing space.
Creditors, banks and staff must see a clear and achievable plan for future success showing how & when debts will be paid if they are going to support a business turnaround proposal.
Strategy for the future
A fundamental analysis of the business will reveal where the company has gone wrong in the past and help identify a new direction that is both clear and robust.
Despite times being tough it is crucial that everyone involved in the business during turnaround is positive and believes in the future. Everyone who works in the company must buy in to the turnaround plan.