Let’s look at an alternative to a CVA and why it’s often of greater benefit to the business and shareholders.
Unlike a CVA, when we help you to manage your cashflow difficulties, the process is informal – so there is no requirement to publicise the CVA and tell all and sundry that you are in an insolvency situation. We spend however much time is needed in your business, initially halting demands from creditors, banks and HMRC; accelerating the collection of outstanding debts and preparing a really accurate short term cashflow forecast.
It’s amazing what a difference it makes having a third party between you and your creditors and how much easier it is to run a business when those pressures are relieved. The cost is also likely to be significantly less than any formal process.
Having steadied the ship – not always easy but we have wide experience of this work – we then conduct a detailed review of all aspects of the business, take decisions with the owners about restructuring and possible sale of parts of the business and prepare a longer term cashflow forecast including sensitivity analyses. A revised payment plan would also be agreed with HMRC and other creditors as part of a detailed cashflow management plan.
Finally a new business plan would be prepared, agreed and implemented and new debt or equity funding raised if appropriate.
If you think we might be able to help with any of your cashflow issues please just give me a call on 07774 110788, email me or connect with me on Twitter
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