BRP offers a Turnaround Strategy with a 4-step plan
This is an automated process to a certain degree, however human intervention in the end is the only solution to a rescue. We aim to focus our efforts only on the most important areas of your business to maximise value and leverage.
This step is to enable ourselves with certain information regarding the current business model to assist us and yourselves to understand the underlying problem and assess possible solutions.
This step is fairly high level and is business model focused. It is our experience that if there are fundamental problems in the business model then the chances of success is very slim.
The objective of this step is to give an initial assessment that would form the foundation of the business rescue or compromise strategy, without you incurring exorbitant costs, to a certain degree this is a self- assessment procedure. Once the process has been completed the practitioner will make contact with yourself and recommend a way forward.
This step is also web based and entails the uploading of all relevant information regarding your business to enable the practitioner to advice on the appropriate strategy, this being business rescue or compromise or hopefully not liquidation.
The complete process is automated, therefore all legal aspects to the process is automatically generated. It is from this stage that costs are starting to be incurred.
Business Plan Process
This step is also automated but would also entail an interview and consultation process. The goal of this process is to get the business rescue plan approved. The development of survival strategies in this phase is highly important and the communication with creditors as important. It must be noted that we run the legal process in parallel to the rescue process.
This step if successful on the previous steps would entail the implementation, monitoring and communication to all stakeholders of the rescue strategies.
The initial assessment will assist in understanding the real financial position of the company. Understanding this is critical to know which the most appropriate route is for the company.
The financial information of the company is required to do the initial assessment. The information required for this:
- Up to date Management Statements
- Last year’s Financial Statements
- Two years of Financial Statements
The above financial information must in total cover at least a period of more than 24 months and must be at least up to 1 or 2 months old.
Turnaround Strategies and Implementation
Business Rescue may not always be the right solution for your company. Your company may not even qualify for business rescue but you have acted soon enough to realise that you need assistance. It could well be that it only needs for example a fresh marketing strategy, additional funding, better management personnel, more staff, less staff, etc.
When that is the case it is much better to simply develop and implement those strategies without having to involve all creditors of a company. Keeping the turnaround process therefore a lot cleaner and simplified. There will be no need to involve the legal process but through an assessment we can, together with you understand the business models and area where improvements are required.
We will start by assessing the business model to make sure the model is sustainable before embarking on all sorts of strategies to ensure we address the cause and not only the symptoms.
A company can go into Business Rescue proceedings from one of the following:
The Companies Act 71 of 2008 together with the Companies Regulations of 2011 define the process to be followed in a Business Rescue case.
1. Company Resolution to begin business rescue.
2. Court order to begin Business Rescue. Court Order can be from any of the affected parties including employees.
3. Compromise with creditors.
The rest of the process will be followed as defined by legislation and court decisions with the business rescue practitioner managing the whole process
Business Rescue Monitoring
Post Monitoring and Covenant Management.
What is Business Intelligence? You probably have plenty of data on many aspects of your business. Your organization makes decisions every day based on the intelligence and insight gained from this data.
Business intelligence (BI) is the ability for an organization to convert all its capabilities into knowledge. This produces large amounts of information which can lead to the development of new opportunities and when identified and a strategy has been effectively implemented, they can provide an organization with a competitive advantage in the market, and stability in the long run.
It’s important to know how your business is doing now but more importantly how you will perform in the future.
In today’s age to be a more competitive business you need to have better information managed in a certain way in order to measure the correct things to get the best results.
Technology focusing on measuring and not counting.
Complete the form to get started with the Assessment Questionnaire
Please note that we will use this information to make contact with you only.