As of October 2020: 75,000 UK businesses were rejected for CBILs loans: yet in many cases it was those businesses that most needed support.
We offer a far better cash return than purely guiding you to raise finance, alongside finance the winningthinking guidance will provide lasting benefits to protect your company and BUILD your war-chest of CASH.
The stakes are high, so even if you do achieve the CBILs loan, you are risk of just burning that cash as well as increasing your indebtedness and reducing your solvency or repayments when they fall due.
We use all of the available tools to realise accelerated re-invention™
We are in uncharted waters, and to navigate these we need new collaborations, new perspectives to fuel fresh thinking to enable us to find new solutions.
Is your cash eroding, is funding an issue and your business facing uncertainty?
The Government has led the way by providing an unprecedented level of support to businesses, which whilst being subject to some criticism, has largely been successful to date at minimising the fallout.
As we continue to navigate through the pandemic, the new Corporate Insolvency and Governance Act also provides some useful new tools to help rescue businesses. These tools can be valuable in creating the space businesses need and cleaning the balance sheet.
This is unfamiliar territory for most businesses, so if these issues are affecting you it is important to obtain good advice. We can help your business to secure its survival and create a strong platform for the future by:
- Thinking differently and collaborating to develop a turnaround plan that empowers management to take new positive actions;
- Creating more time;
- Creating more cash, reducing your funding requirement and strengthening
your balance sheet; and
- Opening-up additional options for you.
Many businesses are currently facing uncertainty and this may increase from October, as creditors will be able to take enforcement action to recover outstanding debts and much of the government support is due to come to an end. There is a narrowing window to take positive action.
For information about how we can help you, and to see who we are working with to help make this happen, click the button below to find out more.
If you think you need professional help, then it is best to get it sooner rather than later.
But….. it is important to be aware that much of the government support is due to end in October, so we now need to look beyond just survival to create strong businesses for the future.
The immediate solution to overcome fear and regain control..
In summary, we are providing a unique team-based approach using the best FDs, sector experts, turnaround expertise and restructuring skills.
This approach quickly creates more options for businesses in distressed situations, which we achieve in 4 steps:
- 2-hour meeting: top-level view to establishing the financial position, high-level activity-based costing, cash flow, threats, opportunities, viability and the capability of the leadership.
- 2 days to gather a detailed view of the financials, establish the core issues and scope the turnaround plan.
- 5 days to detail the turnaround plan to refocus the core business and realign strategy, including further developed activity-based costing and an assessment of key stakeholder perspectives and risks.
- From day 5 we;
- seek stakeholder support;
- agree the on-going reporting requirements (providing enhanced value reporting to lenders); and
- begin implementation.
The key benefits of this are compared to other approaches are:
- Turnaround/rescue is at the core of the approach, with the restructuring/insolvency skills used as a secondary tool to support the turnaround.
- The team-based approach utilises the skills and insights immediately from Day 1, opening-up the options at pace.
- Provides an optimal outcome whilst reducing the burden on the business.
- Light touch restructuring/rescue tools can be used more effectively alongside a robust turnaround plan.
It would be great to meet properly if I’m ever allowed back into London, and would be good to catch up again as we continue to develop this and achieve some results that we can talk about.
Tom Pickering, a turnaround specialist and CEO of Icebreaker team, says
“it’s so refreshing and such a privilege to enable executive teams to take actions from a different perspective, get a grip of their situation, identify and restart selling their core business. The outcome is immediate, it’s amazing when faced with a significant challenge to buck the trend, get back to making money and great relationships.”
With the right collaboration, the right perspectives and some creative thinking, we can worth together to find solutions to protect UK businesses.
If you would like to hear more, please contact me anytime on the details below.
Tom Pickering CEO