What is a Business Turnaround?
Business turnaround is a careful planning and management of a change in business direction, structure, focus and/or operation, that results in a more favourable financial or business position.
How would Turnaround Professionals save my business?
We would take the following steps:
- Gather the information we will need
- Write a recovery strategy
- Negotiate with your creditors
- Collect money that’s owned to you
- Strategically restructure your debts
- Help you develop a Turnaround Strategy
- Provide professional marketing advice
- Restructure and reposition your business
- Sell down your business assets
- Negotiate better terms of credit
- Help you to financially justify a renewed investment
- Write an Information Memorandum for a new investor
What approach will Turnaround Professionals take?
Our aim in the first place is to save your business, and we will always look at that first. If it happens that the business is beyond saving, we’ll do what we can to make sure the directors are positioned to best protect their personal assets. See Section — Pre-Insolvency
How much time do we have?
If you are under pressure, you should act promptly — do not delay, call us on 1300 518 070. Unfortunately, many people under pressure wait until it is too late to take action, but given time, we may be able help you to turn your business around. If the business is beyond help, we can always help you protect your interests and make the most of any situation.
How would Turnaround Professionals restructure my business?
We will help you to reposition and restructure your business only if we agree with you that it is the appropriate strategy for your situation and the market conditions, on basis of our written and financially modelled Turnaround Strategy.
How would Turnaround Professionals collect money that’s owed to me?
We would refer you to an experienced debt collector associate who gets paid only if he or she collects your money for you.
How would Turnaround Professionals refinance my business?
We would prepare an Information Memorandum (IM) based on our Turnaround Strategy, which will help you to justify additional private investment in your business. If our agreed strategy suggests that institutional refinancing is appropriate, we have access to financiers who can arrange many kinds of unconventional loans.
How will Turnaround Professionals negotiate better credit terms?
We have successfully negotiated many very favourable deals for our clients. Negotiation is one of our core strengths.
What if my business can’t be saved?
We can support you and protect your interests so that you can make the most of your situation (see Pre-Insolvency).
How much would a TAP Turnaround cost?
First consultations are free, where we gather information to understand your situation and develop a plan of action. If you agree to proceed, we then prepare a written strategy document aimed at resolving your situation. Our fee for preparing this paper is based on our assessment of the complexity of your solutions and the support activities that are involved.
In most cases the document will incur a once-only charge, the amount based on the nature and level of support services and the complexity of your situation. In the case of a potential Business Turnaround, our strategy is likely to include a list and schedule of further actions that may be required, with line cost estimates for the individual additional services. Business turnarounds are usually the start of an ongoing long-term relationship, where we continue to work with you to expand and develop your business. In any event, our aim in the first place is to take away your worry and stress — to put you back in charge of your situation and in control of your future. If your particular situation suggests that a different service or fee arrangement is appropriate, we will discuss this with you and obtain your approval prior to commencement.