If the signs are there that your business may be struggling, the first step is to seek professional advice. Stacks are the experts in corporate restructuring and are here to come to your assistance and guide you throughout the process of getting your business finances back on track.
When the threat of insolvency looms, it is important that a business considers all options available in order to manage its financial difficulties. You want to explore ways to resolve the issues without the necessity for winding up the business entirely. Putting procedures in place early could potentially save the business from an unhappy fate.
Business restructuring is one way to help a business improve its performance and get back on track. It involves identifying problems with the business’ current structure and then making changes to the overall structure or operations in order to eliminate these problems. It is about planning strategically in order to ensure your business’ future success.
Business restructuring involves complex legal and taxation issues. As every business is different, the strategy for restructuring will need to be tailored to your unique needs. A Stacks Business lawyer can provide advice about the best way to restructure your business so that you can resolve your financial difficulties swiftly and efficiently.
What is involved in restructuring a business?
It is often the case that when the business was first set up, the business structures put in place were not the most effective or well-considered. Restructuring involves revisiting the original structures with consideration given to both succession and estate planning issues.
Business restructuring may be seen as an overhaul of your business. Debts may be restructured. It may be more financially beneficial for assets to be owned and controlled in a different way.
Cuts may be made in certain areas, such as by selling assets or reducing pay, and opportunities for future improvements may be identified and harnessed.
Whatever the reason for your financial hardship, we can provide advice to guide your business back to financial health.
Need advice about Business Restructuring? Call us today