Business Support Services
When you need business support for an under-performing business.
We are retained by business owners, management, investors and boards of directors to help with special situations because they recognize it is not business as usual – it is time for specialists to guide the business through some unusually turbulent times.
From a review of 50 out of the 300 special situations our Principals have worked on we have noted the following:
- 66% of our calls come from business leaders – often pressurized by their bankers, investors or boards of directors to solicit outside help since trying to grow out of the problem is not working. Other sources include the trusted accountant, lawyer or other professional advisor as well as family members in the case of families in business. About 15% of calls come from bankers and lenders who don’t want to call in an accounting firm.
- 65% start as strategy mandates – the initial request is for help set a direction for the business and get stakeholder support for that direction. The mandate develops from there.
- 52% of mandates involve identifying a range of values for the business – this helps in preparing the business for exit or new investors and to establish whether the business is more valuable as a going concern or to sell off assets.
- 45% of our clients are manufacturers – other major industries include professional service firms, distributors, construction and household product companies, retailers, forestry/pulp and paper companies as well as high tech and electronic products companies as well as some government and non-profit agencies.
- 44% of mandates – show improved margins as a result of our services thus adding significant value to the business.
- 40% of mandates – required us to find ways to improve cash flow.
- 36% of situations needed our credibility to buy time with bankers, lenders and investors to stabilize and rebuild the business.
- 34% of mandates involved finding new markets or expanding existing markets for products and/or services.
- 32% of situations involved settling financial disputes between partners, CRA, suppliers and/or investors.
- 22% of situations are to help find an exit for the business owner – preferably a sale of the troubled business or additional investors and, in a few cases, an orderly wind down.