Welcome to our latest bulletin on what’s happening at Helm Advisory and the latest news in the restructuring and turnaround industry.
Steering your Course to Recovery
If your clients or you have been impacted by the current COVID-19 movement and lockdown restrictions, unable to trade and experiencing financial distress, help is available.
While there has been various federal and state support, for many businesses this may not be sufficient. There may still be shortfalls or inability to meet commitments with, for example:
Various loan repayments
Struggling clients instead need tailored and viable plans for resolving their situation and minimising further losses.
Partnering with us, means that your distressed clients and you have access to restructuring and turnaround expertise. Your distressed clients might be assured to know there are options available at the first signs of financial distress, such as insufficient or no cash flow and inability to pay bills. We can help by exploring:
Negotiate viable repayment plans with creditors
Obtaining safe harbour protections
Or managing a temporary period of voluntary administration
We are here to help clients navigate through difficult times with understanding, compassion and expertise from our various professionals.
During these challenging times, we believe that with help, our partnership with you and your client can assist these distressed businesses to ride out these difficult times and to pause or stop, restructure and thrive again.
Helm’s resources can be the “vaccine” or medicine to inoculate your distressed clients from financial distress.
If you have any clients that are exhibiting symptoms of financial distress, don’t delay, and call us now to discuss on 02 9194 4000 or email firstname.lastname@example.org for an obligation free consultation.
It’s a Numbers Game
Numbers have become flavour of the month of late. Daily, we are now bombarded with test numbers, case numbers, postcodes and kilometres. With this theme in front of mind, I’ve delved into some business numbers.
CreditorWatch’s July Business Risk Review makes for interesting reading. Payment defaults are down by 20 per cent compared to June and down by 23 per cent compared to July 2020. This is part of a continuing trend which has seen credit defaults falling for 14 consecutive months. Also, credit enquiries increased by 12.5 per cent in July and are up by 26 per cent compared to July 2020. And, there has been a 23 per cent decrease in external administrations between June and July.
Meanwhile, the Xero Small Business Index, which provides a reading on the overall state of small businesses in Australia, hit a record high of 144 points in June. This number has been on a consistent upward trend since hitting a low of 43 in April 2020. The higher the number the healthier the business sector is.
These are very positive numbers for the Australian economy and display a strong sense of resilience from the business community. It will be interesting to see how next month’s numbers compare as COVID restrictions tighten.
What’s Happening at Helm Advisory
We welcome Bruce Huynh to Helm Advisory as a Senior Manager. Bruce has more than a decade of personal insolvency and corporate insolvency. Bruce has a Bachelor of Commerce and is a member of Chartered Accountants of ANZ and ARITA. He has dealt extensively with hospitality, construction, labour hire, insurance, transportation and logistics portfolios. He brings a wealth of knowledge in managing various complex formal appointments, from SMEs to multi-company groups experience. Clients can be assured and confident that, where possible, Bruce has the ability to implement strategies, enable recovery procedures and return a company to financial health in the interests of all concerned.
Bruce’s hobbies outside work includes supporting the Rabbitohs who win, draw and never lose according to Bruce, rock climbing, and the exciting sport of obstacle course racing.
We can help you now
If you have clients who are experiencing difficulty in paying their debts and/or need to restructure their business, please contact me.