In the current economic climate, I’ve seen firsthand how quickly things can go wrong for businesses facing financial challenges in Australia’s building and construction industry.
The recent news of Viridi Group, a construction company in NSW, going into Voluntary Administration after having a multi-million dollar government contract suspended is yet another reminder of this harsh reality.
AVA Advisory’s role as a small business debt advisor allows us to fully assess your situation, plan a comprehensive restructuring approach, and proactively execute that plan to navigate the financial challenges in a sustainable way.
Our expertise fills crucial need for small buiness owners facing a “mission-critical” cash flow challenges, which can put the personal assets of the directors and owners at risk.
According to reports, Viridi Group was set up to deliver certain products for a major government project, but had the contract paused midway due to “fiscal challenges.”
With around 115 jobs now at risk, it’s a stark example of how one disruption in cashflow can ripple out and threaten the viability of an entire operation.
While none of us can predict when circumstances may change, there are steps small business owners can take to protect themselves and increase their resilience to financial shocks:
1. Carefully monitor your cashflow position and projected revenues. Don’t let optimism bias cloud your judgement on financial realities.
2. Communicate proactively with your creditors, suppliers, and customers at the first sign of financial strain. Transparency builds trust. Leverage our expertise to do this on your behalf to minimise time pressures and ongoing stress.
3. Seek professional advice early from restructuring experts before operational challenges become existential threats. We can explore options to restructure debts, negotiate with creditors, and develop a turnaround plan.
4. Explore interim financing solutions to provide a runway for a restructuring if needed. There are capital sources that we can help arrange for the right situations.
5. As a last resort, investigate formal restructuring options like voluntary administration to provide a “breathing space” and keep the business operating.
The old adage of a “stitch in time saves nine” applies two-fold for small businesses facing financial difficulties.
Proactive management of debts and working capital increases the odds of navigating choppy waters. Waiting until it’s too late drastically reduces the options available.
Don’t let your business fall into a debt spiral - protect your finances today.
At AVA Advisory, our team has the expertise to guide directors and owners of small businesses through even the toughest financial situations.
We understand the urgency of acting decisively but also the importance of taking a pragmatic, solutions-focused approach that protects your interests.
If your business is facing financial challenges such as mouting ATO debt or aggressive creditors, reach out before it’s too late – the greatest financial restructuring solutions can’t fix an completely insolvent business that is too far gone.
A step towards prevention is worth far more than the cost of a cure once the pains and aches of insolvency start to surface.
Contact the expert SMB debt advisors at AVA Advisory today on 1300 556 842 to book a cost-free, obligation-free consultation.
In the current economic climate, I’ve seen firsthand how quickly things can go wrong for businesses facing financial challenges in Australia’s building and construction industry.
The recent news of Viridi Group, a construction company in NSW, going into Voluntary Administration after having a multi-million dollar government contract suspended is yet another reminder of this harsh reality.
AVA Advisory’s role as a small business debt advisor allows us to fully assess your situation, plan a comprehensive restructuring approach, and proactively execute that plan to navigate the financial challenges in a sustainable way.
Our expertise fills crucial need for small buiness owners facing a “mission-critical” cash flow challenges, which can put the personal assets of the directors and owners at risk.
According to reports, Viridi Group was set up to deliver certain products for a major government project, but had the contract paused midway due to “fiscal challenges.”
With around 115 jobs now at risk, it’s a stark example of how one disruption in cashflow can ripple out and threaten the viability of an entire operation.
While none of us can predict when circumstances may change, there are steps small business owners can take to protect themselves and increase their resilience to financial shocks:
1. Carefully monitor your cashflow position and projected revenues. Don’t let optimism bias cloud your judgement on financial realities.
2. Communicate proactively with your creditors, suppliers, and customers at the first sign of financial strain. Transparency builds trust. Leverage our expertise to do this on your behalf to minimise time pressures and ongoing stress.
3. Seek professional advice early from restructuring experts before operational challenges become existential threats. We can explore options to restructure debts, negotiate with creditors, and develop a turnaround plan.
4. Explore interim financing solutions to provide a runway for a restructuring if needed. There are capital sources that we can help arrange for the right situations.
5. As a last resort, investigate formal restructuring options like voluntary administration to provide a “breathing space” and keep the business operating.
The old adage of a “stitch in time saves nine” applies two-fold for small businesses facing financial difficulties.
Proactive management of debts and working capital increases the odds of navigating choppy waters. Waiting until it’s too late drastically reduces the options available.
Don’t let your business fall into a debt spiral - protect your finances today.
At AVA Advisory, our team has the expertise to guide directors and owners of small businesses through even the toughest financial situations.
We understand the urgency of acting decisively but also the importance of taking a pragmatic, solutions-focused approach that protects your interests.
If your business is facing financial challenges such as mouting ATO debt or aggressive creditors, reach out before it’s too late – the greatest financial restructuring solutions can’t fix an completely insolvent business that is too far gone.
A step towards prevention is worth far more than the cost of a cure once the pains and aches of insolvency start to surface.
Contact the expert SMB debt advisors at AVA Advisory today on 1300 556 842 to book a cost-free, obligation-free consultation.
