04/10/2022
… The last few years have seen both small and large businesses benefiting from a range government stimulus packages, including JobKeeper, Cash Flow Boost, State Government grants, building and construction grants et al - however, while this was particularly useful during a time of a global uncertainty, these stimulus packages have generated a series of (un)intended consequences, including high levels of inflation, overstated asset values and an inability to proactively manage both cash flow and operations, our residential construction industry is a prime example of this, with several Perth residential builders filing for liquidation in 2022 and another 70+ identified as having solvency concerns.
So here we are in 2023 moving into a post-COVID world and exiting a relatively volatile past few years, where ‘robbing Peter to pay Paul' has become the norm for many, now however, is an opportune time to reassess the financial position and solvency of your company.
If your company has excessive levels of debt, including ATO related debt, there are safe and legal ways to manage this debt, including by placing your company into voluntary administration, restructuring or a liquidation (should you choose to walk away).
If you feel like the above circumstances sounds both too familiar, then we can assist you with to help you navigate what would ordinarily feel like a very uncertain time, by helping to outline all your circumstances from start to finish.
If you are also keen to save your company, then we can assist as well.
Feel free to email us at [email protected] or by giving us a call on 0433 277 600.
