With the promulgation of the companies act, 71 of 2008 a new era of risk management was entered into by South African companies. The effect of Chapter 6 (subsection 128 – 155) have been highly published and provides protection for companies who find themselves in financial distress.
At SBA, Business Rescue, is only one of the weapons in our arsenal, and experience has taught us that a broad approach is essential when dealing with any business entity. We do not believe in paper exercise business rescues where plans are copied and pasted. This ultimately leads to failure and is the reason why only about 8% of all business rescue applications are successful.
A quantified business performance analysis will be done to determine not only strengths and weaknesses, opportunities and threats, but will point out exactly where the core of the problem lies. After target areas have been identified, tailor made solutions (more than one plan!!) will be formulated and put into place.
It is impossible to be a specialist in all types of business ventures and therefor we see it as imperative that we work together with the current management and directors of the company to formulate and implement suggested solutions.
If we decide that business rescue is the solution, then that is what we focus on! There are no hidden agendas of simply buying time or lining up businesses to be liquidated at a later stage. When we enter into business rescue proceedings, we do everything possible to rescue the business. We are also not affiliated with any liquidation association.
If you are serious about rescuing your business, talk to us first. Any problem has a solution!
- Your company is financially distressed and is unlikely to be able to meet its commitments within the next ensuing months.
- You need time to rationalise the affairs of your company.
- You need relief from eminent legal action being taken by aggressive creditors of your company.
- You need help to formalise the process of negotiating the future existence of your company with the creditors and affected parties within your company.
- You want to save your company or CC from possible liquidation.
- You want help in turning around your business be profitable again.
In suitable matters, Business rescue applications can be drawn up and the plan executed.