Published on 9 November 2010 by Tony Groom Any successful business would be expected to be constantly monitoring its activities and modifying them where necessary to improve the efficiency and its various offers. Continuous business improvement does two things: it optimises existing processes and keeps them optimal by continually updating them. But on its own, […]
Articles Tagged: Cash Flow
Saving insolvent companies needs both a restructuring and business plan #058
Published on 25 July 2011 by Tony Groom Following the demise of Rok and Connaught, another national building maintenance company, Kinetics Group, has just gone into administration with 500 employees being made redundant leaving a skeleton staff of 50 to deal with its five sites. The Kinetics Group had provided building maintenance solutions to over […]
Latest Insolvency stats suggest Zombie companies are still hanging on #061
Published on 5 August 2011 by Tony Groom The latest Insolvency Stats published on Friday suggest that Zombie Businesses are holding back the UK Economy, says company doctor Tony Groom, of K2 Business Rescue. A summary of the Q2 2011 UK insolvency statistics shows: Compulsory Liquidations up; Voluntary Liquidations down; Administrations down and CVAs static. […]
HMRC Taking a Tougher Line on Debt Recovery #036
Published on 25 February 2011 by Tony Groom Evidence is emerging that HM Revenue and Customs is adopting a tougher approach to PAYE, VAT and tax arrears and increasingly using its powers of distraint to take over control of the goods, stock and assets of businesses. In one example this week, just two hours after […]
Employing Restructuring Advisers to Help Save Your Company #003
Published on 16 September 2010 by Tony Groom There are a number of options for companies who find themselves in financial difficulties, but a real challenge is finding someone to help. It’s made more difficult if the directors/owners take the view that they know their business better than anyone else and infer from this that […]
Company Voluntary Arrangements Offer Scope for Saving Insolvent Companies #007
Published on 2 November 2010 by Tony Groom A CVA (Company Voluntary Arrangement) is a powerful tool for restructuring the liabilities of an insolvent company, but it does not, in itself, save the company unless the business is viable. A CVA is an agreement between an insolvent company and its creditors. Therefore a thorough business […]
Business Turnaround Process Involves Completing Three Phases #011
Published on 14 November 2011 by Tony Groom There are essentially three phases to a business turnaround which are the first, emergency phase to try to ensure survival, followed by a stabilisation phase which includes a thorough look at any fundamental changes needed to achieve a viable business and finally the growth phase to secure […]
Turnaround Forecasting is About Reality, Not Hope #015
Published on 14 November 2010 by Tony Groom Normally most forecasting is done for lending, fund raising or other investor related purposes and therefore with hope of future growth built into the forecast. Such forecasts show how loans will be repaid and investors will achieve a return on their money. Such forecasts are often not […]
The Focus Must be on Cash Flow When Times Are Tough #029
Published on 21 January 2011 by Tony Groom Profit and turnover are, of course, important measures of business performance but when times are as difficult as they are at the start of 2011 and many businesses are finding themselves in difficulties the main focus must shift to cash. Cash flow is the most immediate indicator […]
Managing Tax Payments With Time To Pay Arrangements #004
Published on 22 October 2010 by Tony Groom There are hundreds of thousands of businesses struggling to meet their financial obligations to the Exchequer. Businesses, especially smaller enterprises, have been reporting that in the current difficult economic climate they are struggling with cash flow issues as customers and suppliers try to stretch out the time […]