Insolvency To Solvency
Avoiding the worst of insolvency, winding up & liquidations
Saving businesses, Saving stakeholders - that's what we do
Do you want to avoid insolvency? Structure your business affairs to minimise the risks of insolvency? Restructure your business in the best way possible to achieve those goals which are important to you? Avoid key stakeholders being hurt by the insolvency of your business? Minimise the costs of insolvency on your business and your future?
And, most importantly, do you really want these goals with a passion - or are you just 'interested'?
If you have the passion to avoid the worst aspects of insolvency and build a more sustainable business, BIR Solutions can assist you.
We assist business owners avoid insolvency and, if that is not possible, we make sure they select the right insolvency appointment so they can save their business and save their stakeholders from the pain and distress of insolvency.
We are different - very different
Many insolvency and restructuring firms are only really interested in the insolvency appointment. This is where they make their money. What do we do differently?
- We focus on you as well as your business. What do you want? What do you want your future to look like? What do you think is possible? What would you do differently and how?
How will sudden changes caused by financial constraints of losses and cashflow restrictions impact your personal and family life? These issues are more important than the rigid financial analysis of a business.
- Our experience and expertise also allows us to focus on business survival strategies and then growth strategies. We know where to look to reinvigorate the sales and marketing strategies, we know how to improve your management of your human capital talent and we can ensure you have the right financial structure for your future business needs.
- Only when things cannot be improved within the available timeframe do we look at the appropriate insolvency strategy to minimise the risk to the stakeholders. We are then quick to act and we use innovative strategies to minimise these risks.
Your business success is your #1 priority
You have a business that is in need of urgent action because your cashflow is not sufficient to allow you to pay your suppliers on time.
Perhaps your business has not been profitable because of rising costs or falling sales. Or, perhaps a major customer has failed to pay your business on time and this is going to impact upon your business and its ability to pay its suppliers. As we have seen in recent times, a fluctuating exchange rate can also have a significant impact on the profitability of a business, particularly in industries which are more price sensitive to passing on cost increases.
Or worse, perhaps the ATO has sent a penalty notice to the directors for unpaid PAYG. If this is the case, URGENT action is needed as directors only have 14 days from the date of the notice to implement an ATO prescribed solution.
dealing with insolvency
No one likes to talk about solvency, or more precisely, insolvency. Yet this is one area that when it is addressed well in advance of the cashflow ‘brick wall’ being hit, a significantly better solution can be developed for both the business and the stakeholders: saving businesses and saving stakeholders is the key to any solvency solution.
When solvency is a risk to the survival of your company, you need to have all the facts to be able to make the right choices for you and your business.
Not all companies that come to us through solvency issues need to be wound up or placed into some form of administration.
We understand the difficulties you face and we also understand the journey ahead having supported many other companies through this period.
Our comprehensive yet quick and effective approach addresses every element of the company and highlights those issues that need to be overcome as part of the decision making process. By making a detailed assessment of the critical issues, we can take a lot of the anxiety out of making the right decision for your business.
When you are in a position to make a decision, it is made with the comfort and knowledge that all key areas have been properly addressed when it counts - before any insolvency process commences.
And, when we are working with your accountants or lawyers on these issues, this approach allows them, as your professional advisors to keep control of the important client issues and to add value themselves as part of the decision making process.
our points of difference
The founder of BIR Solutions, Michael Royal, has a unique blend of skills in dealing with corporate restructuring. Not only does he have many years of expertise and experience in dealing with corporate restructuring as an Insolvency Practitioner, he has also undertaken successful roles as a Turnaround Managing Director, consistently delivering the best outcomes in difficult times.
On complex matters, you will be dealing with Michael directly. We do not delegate important decisions to young insolvency accountants who are learning the ropes while working on your business.
Our superior analytical skills, fine tuned during turnaround assignments means that you get quick, yet detailed assessments which can be turned into useful information for you and your business.
Our expertise, experience and proven analytical processes ensure that you have the best available information to make an informed and cost effective decision.
As BIR Solvency Solutions is part of the BIR Solutions group, if our analysis indicates that your business can be restructured, we are able to utilise elements of BIR Strategy Solutions, BIR Human Capital Solutions and BIR Finance Solutions to build a comprehensive business support package to effectively restart your business.
solutions with your needs in mind
Reduce debt: For businesses which are looking to restructure their balance sheets by reducing the amount of debt they need to pay and/or extend the timeframe required to pay the debt, we can assist with an informal or formal insolvency appointment restructure plan.
Turnaround & improve business performance: Our expertise and experience in strategy analysis and strategy development, harnessing your talent to implement a successful turnaround and providing finance debt and equity opportunities allows us to come up with innovative strategic solutions for your business turnaround.
Stop the losses & protect the stakeholders: By looking at the various formal appointment options, we can quickly and efficiently implement a formal appointment to minimise your future losses as well as achieve your objectives for your stakeholders.
Minimise director liability: We can advise and implement the right formal insolvency appointment to minimise claims against directors as well as maximise the inherent value in the business.
In conclusion, whether you need to wind up a company, undertake a balance sheet restructuring to remove debt burden or develop and put in place a plan for survival and growth, BIR Solvency Solutions can assist you quickly and cost effectively. With expertise in negotiations, adjudication and as an expert witness, we can deliver a complete suite of services to achieve the right result for you and your business.
Call Michael Royal now on 1300 783 309 if you would like an informal, no obligation free confidential chat, or email Michael or Darren at birsolvency@bir.net.au.
In Summary
Our services provide you with the three core drivers of business success, enabling you to make better and smarter business decisions:
We also work with Solvency, Restructuring & Liquidation Solutions to consistently deliver the best outcomes in those difficult times when solvency and ongoing viability may be an issue.
At BIR Solutions, we are here to help you achieve the most out of your business by providing support, structure and clarity so the decisions you make for the future of your company have a positive impact.
Better solvency solutions saving businesses & saving stakeholders
And, most importantly, do you really want these goals with a passion - or are you just 'interested'?
If you have the passion to build better finance for your business, BIR Solutions can assist you. |
