We understand that you have invested your time and money, creating and nurturing your business. We also know how difficult it can be to acknowledge that your business may not be performing in the way you dreamed it would. In many cases, we know you will have already taken some steps to improve the stability of your organisation, perhaps through a reorganisation or reducing costs, perhaps through staff reductions. However, this often means that you have simply completed a firefighting exercise which generally leads to the situation repeating itself.
At EFM, we offer business turnaround solutions for Companies, Partnerships and Individuals who are facing financial challenges, often helping to completely avoid a formal insolvency procedure. Initially, we will conduct a full independent review of the organisation to identify areas that can be immediately improved as well as devise and implement an overall strategy that will allow your business to stabilise and grow.
As all businesses are different, each and every turnaround plan is bespoke and completely tailored to your circumstances. However, many options are available including; sourcing you fresh investment, renegotiating your banking arrangements, enhancing or refining your existing management team or possibly negotiating with creditors (including HMRC) on your behalf.
Our experienced team provide hands-on support to management to lead and guide them through a successful turnaround. They focus on providing leadership, bringing stability to an organisation, providing visibility and clarity, and accelerating change.
Our experts work in a hands-on manner and at close quarters with management to:
- Stabilise performance and liquidity
- Conduct a thorough situational and financial analysis
- Assess the turnaround options
- Prepare a robust plan
- Execute the plan