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Phase 1: Diagnostic Assessment & Financial Health Check
Understanding Your Business’s Financial Position
Before a business can turn things around, it needs a clear understanding of its financial situation. This phase involves a detailed consultation to assess where things stand and identify potential risks, including tax risks that need to be made clear. We recommend a detailed audit and review of tax returns.
Key Steps in Phase 1:
- Initial Consultation: A deep dive into your financial struggles and business challenges.
- Financial Health Check: Reviewing assets, liabilities, and cash flow.
- Business Viability Assessment: We assess your business’s long-term viability, factoring in market conditions, competition, and growth potential.
- ATO Debt Analysis: Identifying unpaid tax obligations and penalties.
- Risk Assessment: Pinpointing dangers like insolvency and Director Penalty Notices (DPNs).
- Personal Wealth Impact: Understanding how your personal finances may be affected.
Phase 2: Strategic Report & Business Continuity Plan
Creating a Roadmap to Regain Financial Stability & Compliance
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- Strategic Recommendations: Tailored solutions for long-term viability.
- Debt Management Plan: Negotiating with creditors and establishing ATO payment arrangements can mitigate potential issues.
- Financial Analysis & Forecasting: Projecting future financial obligations and liabilities.
- Business Restructuring: Exploring ways to improve financial stability and operational efficiency.
- Insolvency Risk Assessment: Examining insolvency risk minimisation to protect your business and personal assets.
- Liability Minimisation: Ensuring directors take steps to protect themselves from personal liability.
A structured business continuity plan offers a clear roadmap that includes a thorough audit of your financial statements, to financial stability, helping businesses avoid insolvency and legal consequences.
Phase 3: Restructuring Business Debt & Liability Management
Taking Action to Reset Your Business
The final phase is all about implementing the plan. We work alongside business owners to execute restructuring strategies, reduce tax debt, and ensure long-term financial stability.
Key Steps in Phase 3:
- Action Plan Implementation: Putting the strategy from Phase 2 into action.
- Debt Management Implementation: Engaging with ATO, ASIC, and creditors to resolve outstanding issues.
- Business Performance Monitoring: Tracking financial health to ensure continued improvement.
- Financial Advocacy: Representing business owners in negotiations with the ATO and creditors.
- Cash Flow Optimisation: Implementing strategies for consistent, positive cash flow.
- ATO Lodgement Compliance: We assist with ATO representation, payment plans, compliance, and Director Penalty Notices.
Why Choose Oyster Hub for Your Business Recovery?
If you’re struggling with financial distress, it’s crucial to conduct due diligence. you don’t have to face it alone. Oyster Hub’s expert team is here to guide you every step of the way. We offer specialised expertise in financial recovery beyond traditional accounting, with a proven track record of helping businesses reduce tax debt, navigate tax laws, and avoid insolvency. Due to a change in your financial circumstances or operational environment, our team provides step-by-step guidance through each phase of the rescue process, ensuring businesses get access to legal, financial, and compliance professionals when needed. Beyond recovery, we support long-term success by helping businesses grow beyond financial crises and offering ongoing financial advisory and management services.
- Expert guidance through every phase.
- Debt reduction strategies tailored to your business.
- Access to legal, financial, and compliance professionals.
- Support beyond recovery, ensuring long-term success.
- Ongoing financial advisory for continued stability.
