HEALTH CHECK

Business management leading to turnaround and recovery is a combination of technical knowledge, business experience and financial discipline. This formula will almost always comprise a pooling of knowledge between the current directors or partners and businesscare personnel, where necessary with the input of independent specialist expert advice introduced by businesscare.
Although it is often possible to identify common weaknesses in many failing businesses, every case is unique and there is no one magic formula which guarantees successful recovery. There are however 3 initial steps which need to be taken as the first stage in any financial recovery, namely >>

• Ascertain the precise financial position of the company
• Consider the available options as a way forward
• Choose the way forward and build the recovery plan thereon.

The first step is necessary to secure the foundation on which the rescue plan is to be built. Just as it is impossible to restore a building successfully from a shaky foundation, so it is necessary to identify the base position of the business it is hoped to reconstruct. We achieve this by preparing an up to date Statement of Affairs (SoA).In order to assist in the process of preparing the SoA, Finn Associates has compiled a (FHC) especially for businesscare clients, a copy of which may be obtained by Clicking on the above button (Financial Health-check). Once we receive the completed FHC, businesscare will then be in a position to advise on the second and third steps.
For companies against which a Winding-up Petition has already been presented and advertised, click now onto “Life After a Petition?"