expert advice and support at hand
Our 5 step plan
Step 1 - the warning signs
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 if you’re experiencing any of the following:
- Cashflow issues
- Late payments from customers
- Increased time spent dealing with creditors
- Red bills, worsening credit status, late making payments
- Overdue HMRC payments
- Looking for additional funding
At our initial meeting we will make suggestions to ease cashflow or safely inject working capital and advise you on how to avoid wrongful trading. Our job is to be realistic about the future of your business and there’s no charge for this initial advice.
Step 2 - stabilise the business
Our priorities are to understand what is happening in your business – the creditor pressure, whether short-term cash is needed, 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:
- An initial survival plan.
- A 12-week cashflow forecast.
- Talking to your bank and your creditors including HMRC to negotiate extended terms.
Director
- 01603 877641
- 07786 242344
- tonyharrison@mw-w.com
- Prospect House, Rouen Road, Norwich, NR1 1RE
Understand your financial options
Check the health of your business with our free business health check tool.
Get an indication as to whether your company has what it needs to survive.
Includes:
-Company health assessment
-Types of liquidation available
-Options & next steps
*All information provided is completely confidential and will not be shared with a third party
Free advice line for distressed company directors > 08003317417
Step 3 - look forward
Once back in control a new business plan will move you forward. We can help by:
- Examining the infrastructure of your business determining its business needs or shortfalls, its funding structure and its assets, highlighting profit improvement opportunities
- Restructuring profitable areas and dropping less profitable ones
- Managing working capital
- Setting and monitoring KPIs
Step 4 - implementing your plan
Your business will need careful monitoring to achieve its potential and avoid future problems. We offer a mentoring service that gives you access to years of expertise in business management. We can:
- Attend board meetings
- Assess management strengths and weaknesses and highlight areas for training or development
- Assess and challenge your budgets and forecasts
- Provide an independent appraisal of your progress
- Ensure you control the business rather than others controlling you
Step 5 - a 'hands-on' turnaround interim manager
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 strainand provide expertise – is the perfect crisis management solution.
The costs
- Step 1 – free of charge
- Steps 2 -4 – agreed with you at the outset, usually on cost/hourly basis
- Step 5 – only chargeable once an interim managing has been appointed and fees negotiated
How can we help - Book a free 1-2-1
If your company is struggling with unmanageable debts, decreased cashflow or concerns about about your company’s future, we can assess your situation and provide you with tailored solutions and options.
During your free initial advice meeting, we will discover a true picture of your company’s financial situation
and offer practical and expert guidance on your next steps.
Initial meetings can be held at our office or your premises and are completely confidential.
There is no charge for this meeting – charges only apply if and when terms of engagement have been agreed.
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BUSINESS RESCUE & INSOLVENCY SPECIALISTS
Download your free Directors' guide
This free, easy-to-read guide is designed to help directors whose company is in financial distress. It will assist directors to navigate around insolvency issues and avoid potential pitfalls, split over ten sections this guide walks you through the matters in a logical order you are
likely to need to consider.
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