Recognising warning signs early will give you the best possible chance of avoiding insolvency. If any of these factors apply to you, call us in confidence:
At an initial meeting we will make suggestions to ease cashflow or safely inject working capital and advise you on how to avoid wrongful trading. We won't judge but we will be realistic about the future of your business. There is no charge for this.
Our priorities are to understand what is happening in your business - the short term cash need, the creditor pressure, the position that your bank is adopting and the stakeholder issues. When we have an understanding we will recommend a short term strategy to include:
and, if you wish, we will talk to your bank and your creditors - including HMRC - to negotiate extended terms.
Once back in control a new business plan will move you forward. We can help by:
Steps 1 to 4 are undertaken by our in-house team of professionals but in some cases a turnaround interim manager - a professional who will work alongside you to take the strain and provide expertise - is the perfect crisis management solution. T-im is a network of professionals who can be called on at a moment's notice to work alongside owners and managers of businesses under financial pressure. They bring first rate management skills that create space in which the current managers can stop 'fire fighting' and re-focus on delivering results. Our t-im professionals have diverse skill sets ranging across financial, sales and marketing, production, operation and so on as well as general management and leadership. They have been there, done that and turned businesses around before. You can expect your turnaround interim manager to focus on immediate issues and to get things done, as well as take the pressure off you, act as a mentor and steer your business towards success. Interim managers are selected from our database of trusted managers, all of whom have enormous experience and wide skill sets. We don't only look for a good skill match - personality is equally important as this person will be part of your team for a period of time. The costs of an interim manager only begin once someone is appointed and you are happy with their fee level.