An independent business review can be an important first step in improving the fortunes of an organisation which is underperforming, in distress or in crisis.
An objective, third party is commissioned (by a financial stakeholder or the organisation itself) to look in depth at historic performance and its financial and strategic plans for the future. The aim of the review is to identify the true reasons for financial distress and to develop strategic options and recommendations for going forward.
When to consider Independent Business Reviews
If you are a shareholders, director, supplier or lender concerned about the viability of an organisation then you should seek expert advice.
We are comfortable working directly for the organisation or in conjunction with its stakeholders. Either way we would propose to set up a consultation meeting to better understand the background before developing our action plan.
Within our review we would examine the processes, procedures, financial / operational plans and performance of your organisation to identify strengths, weaknesses, opportunities and threats. We will then work with the business to develop an action plan aimed at building upon its strengths, embracing opportunities, addressing weaknesses and mitigating against the risk of the threats. This can involve preparing cash flow forecasts and discussing day to day business procedures with the directors and key staff, to gain a full overview of the business.
Should you require our involvement and supporting in implementing our recommendations we are happy to continue working alongside lenders, stakeholders and all levels of management to get the business back on track.