Who should be the architect of a turnaround?

Who should be the architect of a turnaround?

Estimated reading time: 6 minutes

Small-to-medium sized business owners can’t effectively outsource the responsibility for driving a turnaround process when their business is in financial trouble. They can hire sensible staff and competent professional advisors but they are the only people with the incentive (skin in the game) and experience (because they started the business) to drive forward a turnaround process.

Inside problem or an outside problem

Business Survival Series: Is the problem an inside problem or an outside problem?

Estimated reading time: 5 minutes

Running a business can be tough and no matter how prepared you are, there will always be hurdles along the path. As such, recognising the type of problem that you’re dealing with is vital in determining what strategy should be implemented to respond to a financial crisis. A helpful starting point is to consider whether the problem is an inside problem or an outside problem.

Image for the article: "Business Survival Series: Respect Your Creditors "

Business Survival Series: Respect Your Creditors

Estimated reading time: 5 minutes

Having creditors is a necessary element of business. But those lines of credit extended to your business do not come without some reciprocal obligations. Respecting your creditors should always be a priority. It is vital that you maintain a strong creditor-debtor relationship, even as situations change and become more difficult.

Starting a Business Misconceptions

Business Survival Series: Misconceptions About Starting a Business

Estimated reading time: 4 minutes

Starting a business can be a mystifying process. It involves overcoming complex and seemingly never-ending challenges that can be frustrating to navigate and sometimes will not lead to a quick return. As such, when considering whether to begin such a difficult undertaking, it is immensely important to clarify some of the ideas surrounding starting a business.

Ilustration of zombie companies chasing cash

Zombie Companies: Is your business walking dead? Complete Guide for SMEs

Estimated reading time: 32 minutes

A zombie company is a business that barely scrapes by and is always short of cash. The problem with zombie companies is that they can be easily tipped over the edge into insolvency when something goes wrong. Read our article to learn more about the signs, symptoms and consequences of zombie companies.

phoenix activity accounting

The Complete Guide to Illegal Phoenix Activity

Estimated reading time: 42 minutes

Illegal phoenix activity — the ‘re-birth’ of a business in new corporate feathers to avoid its obligations — has been a major concern of regulators in Australia for the last 25 years. In this ultimate guide we explain everything you ever wanted (and didn’t want) to know about phoenix activity in Australia.