Are you feeling the pinch of the slowing economy? Do you want to right-size your company to keep it agile for the tougher years ahead? An SME advisor can provide business restructuring services to organise your company to a manageable size and help you achieve long term stability.
As an owner of an SME, downsizing is the last thing you want to do. But downturns and difficulties—especially those that are caused by factors beyond your control—often make business restructuring the only way forward. This is why even the biggest conglomerates regularly restructure not only to reduce costs but also to refocus on key products or accounts. If you’re thinking of doing the same for your company, it’s best to seek the help of an SME advisor who can provide SME business advice, including business restructuring guidance. Here are just three of the many ways a professional can make this difficult process easier:
An SME advisor can take over the alteration or reassignment of duties within your organisation, whether this means dismissing employees, eliminating departments, closing some of your locations, or hiving off certain parts of your business and facilitating a possible sale of that part. Downsizing may also involve outsourcing some of your operations. Your business restructuring will work with you to determine the most suitable solutions based on your unique goals and requirements.
- Disposal of distressed assets and insolvent businesses
If certain businesses or assets no longer perform, it may be time to sell them before entering into formal insolvency. This is the most strategic way to obtain the best value for all stakeholders in some cases. Make sure to work with insolvency experts who focus on acquisitions and disposals. They can provide you with relevant SME business advice while making sure that you and your directors are protected throughout.
- Maximising distressed real estate
Your SME advisor can also help your business realise value from any distressed real estate assets. They can act as Land and Property Receivers or Fixed Charge Receivers for mortgagees. They can also facilitate negotiations on your behalf—whether you’re a landlord or a tenant—with regards to renting arrears settlement and rent reviews.
Business restructuring is never easy. However, it is often necessary not only to ensure the survival of the company but also to let your core business thrive. An SME advisor can work closely with you as you make those tough decisions and make sure that the best possible outcome is achieved.
There comes a time in the lifespan of every business where it will need reliable management consulting services for advice and support on different matters. Savants can work with your business to boost its performance through our expert advice for solving problems. Our business consulting services are delivered to you personally by seasoned advisors who can back you up and encourage long-term growth. Discerning owners of small and medium enterprises turn to us for a wide array of concerns, such as business, insolvency, financial, or restructuring advice, and we’re proud to share that most of them are happy and satisfied with our approach and recommendations.
About the Author:
This article is written by Andrew Anthony, business director at Savants. Its an independent advisory firm specializing in corporate recovery and corporate and personal insolvency. The company’s licenced insolvency practitioners offer advice on insolvency procedures to companies, partnerships and sole traders.