We have joined forces with One Direct Advisory, expanding our services to include expert advice across business strategy, finance, corporate structuring, governance and HR. Find out more here.
Most businesses have to deal with finance one way or another.
Perhaps you have a line of credit to manage cash flow ups and downs, perhaps you need to take out
a significant loan for your next major venture, or perhaps you need equipment finance to get your fleet up and running.
Whatever the case, you don’t want to get accidentally trapped into something awful with your financer and find out about it 3 years later.
What might that be? That could be:
Whatever the case, we can help you make sure that you know what you’re getting into, that the terms are fair and reasonable, that the securities are correct and lodged, and that you and your bank remain on good terms as you build your business.
And if you hit the limit with your current financier, we can help you get the refinance underway.
We see this a lot – Bruce and Mary started a business together as a partnership. They wanted to make it fairly simple so they kept things pretty loose.
Now their business is growing, Bruce and Mary have realised that:
In short: they need to restructure.
Done right, restructuring can set you up for growth into the future, protect your assets, maximise
the value of your business, and give you a sound exit strategy.
Bankruptcy and Insolvency
Even the best laid plans sometimes don’t pan out.
Perhaps it was a single job that went awry, a large client that didn’t pay, or a cash flow crunch that went on for too long.
Whatever the cause, sometimes the only option is to draw a line under what you owe your creditor and explore insolvency or bankruptcy options.
There are two things you shouldn’t do when under this kind of financial pressure.
The first is that you should not navigate this area yourself. Why? Because there might be other, better, options than simply winding things up and moving on with your life. These aren’t always that well known and can be difficult to identify and choose between without professional advice.
The second is you shouldn’t entrust your future to the sharks that will sell you a magical plan to
“ditch your debt and keep your assets”. Their advice often doesn’t come with legal professional privilege and is often legally dubious. Moreover, these kinds of promises regularly fall into the old saying: if it sounds too good to be true, it probably is.
We can help you lawfully negotiate with your creditors, walk the insolvency path, get advice on any risks you might have, and get through the other end.
We’ll help you get the right terms in the right places and use them the right way.
That way the legal side isn’t a disruption to your business, but rather an integral part of minimising your risk, and maximising your profit.
You’ve got enough on your shoulders running a business. Let us lighten the load as your trusted advisors, and help you navigate the ups and downs along the way. Reach out here for a chat.