Implementing a successful turnaround strategy is one of the most important things you will ever have to do with your business. Financing the business plan is another issue all of its own and it needs to be in place from the start.
Business finance for company turnaround
Recognising there is a problem and putting together a Company Turnaround Plan is a significant task for any business. Financing the business plan is another issue all of its own. This is of course critical to both the survival of the company and the successful implementation of the plan.
This need for finance comes in two distinct forms:
- Finance to get through the first few weeks and months of the Turnaround at a time when the operation is conspiring to consume cash resources at what seems to be an ever-faster rate, and with creditor pressure at its peak
- Finance to enable trading once the business has been stabilised. This funding will be to facilitate the new Company Turnaround and Growth Plans and potentially fund new assets, people or, indeed, infrastructure
Maintaining communication with the lenders
We work very closely with both existing and any new funders both in the build-up to and during the company turnaround process.
These funders need to have the confidence that they are backing a viable plan and that there is a team in place that they can trust to deliver.
We will work with the leaders of the business to keep the providers of finance updated on a regular basis. This seeks to build a trust between the parties and gives the funder comfort that the plan is going in the right direction. It also gives comfort to the management team that the finance facilities are not about to be pulled away at any moment.
Access to company turnaround finance
We are specialists in this field and have links with all the key funders in the market place, including Alternative Finance. We also work with a number of specialist companies and High Net Worth individuals who provide both Debt and Equity funding to businesses with a viable Turnaround Plan.
From the funder’s perspective it is vital that there is this robust and believable plan in place.
The potential provider of finance will want to see some fundamental commercial changes that will convince them that this is a business with a future and worth backing.
Advice on Business Finance
Before agreeing to any funding, Opus would be happy to review the options with you to ensure you have the best deal for your business and your turnaround plans.
From trading challenges to business growth
“We were introduced to John Thompson by a personal friend who had previously used his services. He has proved to be a first class business coach over the past two years, initially helping us through an exceptionally difficult trading position and once this had been resolved, working with us to support our business growth strategy. During this time our business turnover has increased by some 50% and we have returned to profitability. He has provided significant support in assisting us in successfully sourcing new finance facilities for our business”