This case study highlights the need to deal with business solvency issues both proactively and in conjunction with good advice. Acting together can save a business, dragging your feet can lead to far worse problems.
Simply put, solvency is one of the strongest measures of the long-term financial health of your business. It's also the clearest way to gauge the robustness of your business in the face of financial pressures driven by the external factors and overall economic climate.
[ultimate_spacer height=”15″]
When it comes to maintaining solvency, Bryant & Bryant feels it's best to be proactive. We provide you with the solutions and structures you need to strengthen your bottom line, build reserves, and protect your business in the long run to secure business growth over time. Conversely, if you find yourself in financial difficulties, we can help you develop a financial cushion that will in-turn help you alleviate any financial pressures. Again, pro-activity is key.
[ultimate_spacer height=”15″]
So how best to remain proactive when approaching your business's financial plan?
[ultimate_spacer height=”15″]
As a stakeholder, you know it's essential to manage your business effectively and comprehensively especially when considering your legal and financial responsibilities. We help you to stay ahead of the business curve and stem the tide of any downward trends by keeping you informed of your financial position at all times. We help you to implement systems that simultaneously protect your business assets and minimise your risk of personal exposure. Our services include:
[ultimate_spacer height=”15″]
• Business planning for financial strategy
• Asset management
• Financial performance analysis
• Business processes in the event of audits
• Operational restructuring where necessary
• Smart and consistent business reporting
[ultimate_spacer height=”20″]
[ultimate_spacer height=”20″]
Looking for further information? These frequently asked questions (and answers!) might be able to help.
[ultimate_spacer height=”30″]
THE TYPES OF SERVICES BRYANT & BRYANT PROVIDES
[ultimate_spacer height=”15″]
In addition to the above, Bryant & Bryant also offers:
[ultimate_spacer height=”15″]
• Financial accounting and solvency reviews
• Business assets reviews and management
• Personal risk and exposure review
• Consultation and negotiations with the ATO
[ultimate_spacer height=”30″]
MY BUSINESS HAS SEEN A RECENT DECLINE. WHAT STEPSSHOULD I TAKE?
[ultimate_spacer height=”15″]
First, you must facilitate a thorough investigation of your current financial position and organise a comprehensive review of your business. This will allow you to determine a reason for the decline. Next, consider measures to stop the decline of your business. Bryant & Bryant specialise in assisting our clients with business reviews and developing solutions to address the concerns. Our services in this respect include:
[ultimate_spacer height=”15″]
• Costing analysis
• Cash flow and budget reviews
• Business process reviews
• Corporate and business strategy
• Business risk management
[ultimate_spacer height=”30″]
WHEN ASSESSING MY FINANCIAL SITUATION, HOW DO I DECIDE WHICH CREDITORS TO PAY FIRST?
[ultimate_spacer height=”15″]
Under Australian law, payment plans that favor certain creditors over others may be "clawed back" should your company face liquidation (note that this applies to circumstances in which monies have been paid during a period up to six months prior to the liquidation). Accordingly, if your company finds itself under financial duress, you should be very careful about prioritising creditors and should seek professional advice in this area before making any "preference” payments.
At Bryant & Bryant we have a strong professional network of technical and legal experts specialising in corporate insolvency who can assist you in navigating such circumstances.
[ultimate_spacer height=”30″]
MY BANK HAS THREATENED TO APPOINT RECEIVERS. WHAT SHOULD I DO?
[ultimate_spacer height=”15″]
• Be sure to establish clear and open lines of communication with the bank. Stay in touch with them until you can find an agreeable solution.
• Review your position regarding assets and liabilities and consider whether this is an opportunity for financing or refinancing.
[ultimate_spacer height=”30″]
IS REFINANCING A GOOD SOLUTION TO DEAL WITH FINANCIAL DIFFICULTIES?
[ultimate_spacer height=”15″]
It can be a good solution provided your business is viable. Re-financing allows a comprehensive review of your business, and this in-turn can help to develop and implement strategies for improving the financial performance of your business. We have assisted a number of our clients in refinancing their debts and as part of the process we have helped them review their costing models, reduce overheads, divest under or non-performing assets and streamline the business operations for profit maximisation.
[ultimate_spacer height=”30″]
HOW CAN WE HELP YOU TO TURN YOUR BUSINESSES AROUND?
[ultimate_spacer height=”15″]
Bryant & Bryant makes every effort to understand both your business and your current financial situation inside and out by:
[ultimate_spacer height=”15″]
• Assisting you with a comprehensive business review
• Developing solutions tailored to your business and financial needs
• Evaluating both your asset and liability positions to assist with business and personal assets management and effective tax planning
• Providing ongoing support and advice
Simply put, solvency is one of the strongest measures of the long-term financial health of your business. It's also the clearest way to gauge the robustness of your business in the face of financial pressures driven by the external factors and overall economic climate.
[ultimate_spacer height=”15″]
When it comes to maintaining solvency, Bryant & Bryant feels it's best to be proactive. We provide you with the solutions and structures you need to strengthen your bottom line, build reserves, and protect your business in the long run to secure business growth over time. Conversely, if you find yourself in financial difficulties, we can help you develop a financial cushion that will in-turn help you alleviate any financial pressures. Again, pro-activity is key.
[ultimate_spacer height=”15″]
So how best to remain proactive when approaching your business's financial plan?
[ultimate_spacer height=”15″]
As a stakeholder, you know it's essential to manage your business effectively and comprehensively especially when considering your legal and financial responsibilities. We help you to stay ahead of the business curve and stem the tide of any downward trends by keeping you informed of your financial position at all times. We help you to implement systems that simultaneously protect your business assets and minimise your risk of personal exposure. Our services include:
[ultimate_spacer height=”15″]
• Business planning for financial strategy
• Asset management
• Financial performance analysis
• Business processes in the event of audits
• Operational restructuring where necessary
• Smart and consistent business reporting
[ultimate_spacer height=”20″]
[ultimate_spacer height=”20″]
Looking for further information? These frequently asked questions (and answers!) might be able to help.
[ultimate_spacer height=”30″]
THE TYPES OF SERVICES BRYANT & BRYANT PROVIDES
[ultimate_spacer height=”15″]
In addition to the above, Bryant & Bryant also offers:
[ultimate_spacer height=”15″]
• Financial accounting and solvency reviews
• Business assets reviews and management
• Personal risk and exposure review
• Consultation and negotiations with the ATO
[ultimate_spacer height=”30″]
MY BUSINESS HAS SEEN A RECENT DECLINE. WHAT STEPSSHOULD I TAKE?
[ultimate_spacer height=”15″]
First, you must facilitate a thorough investigation of your current financial position and organise a comprehensive review of your business. This will allow you to determine a reason for the decline. Next, consider measures to stop the decline of your business. Bryant & Bryant specialise in assisting our clients with business reviews and developing solutions to address the concerns. Our services in this respect include:
[ultimate_spacer height=”15″]
• Costing analysis
• Cash flow and budget reviews
• Business process reviews
• Corporate and business strategy
• Business risk management
[ultimate_spacer height=”30″]
WHEN ASSESSING MY FINANCIAL SITUATION, HOW DO I DECIDE WHICH CREDITORS TO PAY FIRST?
[ultimate_spacer height=”15″]
Under Australian law, payment plans that favor certain creditors over others may be "clawed back" should your company face liquidation (note that this applies to circumstances in which monies have been paid during a period up to six months prior to the liquidation). Accordingly, if your company finds itself under financial duress, you should be very careful about prioritising creditors and should seek professional advice in this area before making any "preference” payments.
At Bryant & Bryant we have a strong professional network of technical and legal experts specialising in corporate insolvency who can assist you in navigating such circumstances.
[ultimate_spacer height=”30″]
MY BANK HAS THREATENED TO APPOINT RECEIVERS. WHAT SHOULD I DO?
[ultimate_spacer height=”15″]
• Be sure to establish clear and open lines of communication with the bank. Stay in touch with them until you can find an agreeable solution.
• Review your position regarding assets and liabilities and consider whether this is an opportunity for financing or refinancing.
[ultimate_spacer height=”30″]
IS REFINANCING A GOOD SOLUTION TO DEAL WITH FINANCIAL DIFFICULTIES?
[ultimate_spacer height=”15″]
It can be a good solution provided your business is viable. Re-financing allows a comprehensive review of your business, and this in-turn can help to develop and implement strategies for improving the financial performance of your business. We have assisted a number of our clients in refinancing their debts and as part of the process we have helped them review their costing models, reduce overheads, divest under or non-performing assets and streamline the business operations for profit maximisation.
[ultimate_spacer height=”30″]
HOW CAN WE HELP YOU TO TURN YOUR BUSINESSES AROUND?
[ultimate_spacer height=”15″]
Bryant & Bryant makes every effort to understand both your business and your current financial situation inside and out by:
[ultimate_spacer height=”15″]
• Assisting you with a comprehensive business review
• Developing solutions tailored to your business and financial needs
• Evaluating both your asset and liability positions to assist with business and personal assets management and effective tax planning
• Providing ongoing support and advice
This case study highlights the need to deal with business solvency issues both proactively and in conjunction with good advice. Acting together can save a business, dragging your feet can lead to far worse problems.
