BIR Solutions helps businesses with tight cashflow by always providing 4 options

Businesses with tight cashflow often appear to have insurmountable issues and they operate in an environment of high stress and uncertainty.

Because we love what we do, we provide you with solutions which are clear, easy to understand, objective and rational – and which minimise the risk to all parties.

Whilst an insolvency appointment (such as a liquidation or a voluntary administration) is one option which we are qualified to undertake, we make sure that the option you select is the best option for you and your business.

We offer 4 types of solutions for businesses with a tight cashflow:

Option #1: Turn around the performance of the business.

Option #2: Restructure the debts of the company.

Option #3: Wind down the business in an orderly manner, whilst considering a sale at fair market value.

Option #4: Immediate appointment of an insolvency administrator.

Solvency: the ability to pay your debts as and when they fall due and payable.

Insolvency: when you are not solvent, you are insolvent.

Solvency engagements

These engagements involve one or more of the following:

  • Tax-related distributions to members of a company.
  • Shareholder disputes which if not resolved, may impact on the solvency of the company.
  • Unprofitable businesses which if not turned around or if not wound down and/or sold, will eventually become insolvent and cause issues for the officers of a company.

Insolvency engagements

These engagements involve one or more of the following:

  • Unprofitable businesses which do not have sufficient cash to pay all the debts as they fall due.
  • Cash-strapped businesses which may or may not be profitable but there is insufficient cash to pay all the debts as they fall due.
  • Businesses which cannot produce regular, timely and accurate financial statements for shareholders and financiers.
  • Disputes which have crippled the business; either internally within management or externally with customers and suppliers or financiers.
  • Fraud which has taken much-needed cashflow out of the business.
  • ATO-related debt, involving either unlodged BAS returns or Director Penalty Notices (DPNs) for lodged but unpaid BAS returns.
  • Bank-generated debt issues following a renegotiation, the withdrawal of facilities, or the inability to refinance.

Our involvement is often not a planned event. So stress, uncertainty and emotions are high. The stress can affect the business owners, the managers and employees as well as their families and friends.

Our role is to reduce the uncertainty, increase the level of understanding and options, and as a result make the stress more manageable.

When a business has tight cashflow, you want to consider all the available options – not just the insolvency options.

You certainly want to know more than ‘your business is insolvent and you should appoint an insolvency administrator’. Unfortunately, that is the advice from many insolvency practitioners.

At BIR Solutions, we consider all the options for your business, in a logical, rational manner, from saving the business and saving the stakeholders to minimising the risk for the stakeholders.

Typically, we identify the 4 options which every business with a tight cashflow should consider.

But that’s not all….

We are passionate about educating business owners and their advisors – so they don’t become insolvent.

We show you ‘the what’ and ‘the how’ but most importantly, we first show you ‘the why’. (Without understanding the why, the what and the how are just systems and processes which are unlikely to be implemented).

Put simply, once you know and understand the why, you are more likely to implement the what and the how. So you build a better business, a more viable business and a more sustainable business.

To obtain nourishment for your brain and interesting insights and inspiration into innovative thought, sign up to our free newsletter, link with us on LinkedIn and Facebook and subscribe to our Twitter feeds .

If you would like to find out more about how we help business owners, give us a call for a confidential, no obligations free chat on 1300 783 309 or contact us.