Free Business Review

At BRA, we believe that through the combination of our professional qualifications and our extensive practical experience of dealing with financially distressed companies, partnerships and individuals, few other professional advisors can be better placed to advise on so many aspects of a business.

Insolvency practitioners offer a free initial consultation, however this is often limited in time and scope. Equally, whilst it is claimed that formal insolvency processes are only considered as a last resort, many clients remain uncomfortable with the stigma associated with the world of insolvency in general.

BRA goes so much further and can draw upon members of its team accross a whole spectrum of areas of a business as detailed below and who also retain a broader knowledge of all aspects of running businesses. In the event that recovery is simply not possible BRA can also draw on the direct expertise of qualified insolvency practitioners when all other avenues have been explored. Be in no doubt however that BRA is engaged on your behalf to actually seek to assist you in avoiding formal insolvency.

Before we make any recommendations, working closely with the client, we conduct a comprehensive business review to help us develop a clear understanding of the financial position of your business. During the review we look at every aspect of the business in detail, from its organisational structure to historical and projected performance data. This information is then used to establish an accurate picture of it’s financial condition and future prospects and requirements. Examples of the areas covered by the free business review are detailed below.

  • Historical Financial Data
  • Operating Systems to Include Accounting Function
  • Projected Financial Data
  • Sales and Marketing
  • Capital Requirements
  • Staffing and Management Structure
  • Overhead Structure
  • Taxation Issues
  • Business Objectives
  • Key Competitors

 

The length of the review process will inevitably be largely dependent upon the size and complexity of the business, but however long it takes, it’s free of charge. At all times our primary consideration is the survival of your business.

Only when we have reported our findings and have agreed with you the most suitable course of action and the proposed implementation of the agreed strategy, do we discuss the basis of an acceptable future fee structure.

Upon receipt of a signed letter of engagement, we will provide a formal written report, which will clearly identify the problem areas within your business. It will also contain a detailed strategy comprising short, medium and longer term objectives, from dealing with the immediate pressing financial concerns to secure its survival through to medium and longer term restructuring and business planning and modelling.

We believe that building a relationship based on mutual trust is paramount to achieving these objectives. Therefore, subject to the clients satisfaction, the BRA manager who undertook the free business review will retain responsibilty at all times for the project management of the agreed strategy through to completion. The manager will act not only as a focal point liaising with other members of the BRA team regarding the implementation of specific requirements of the agreed strategy, but will also be available as a direct point of referral to the client throughout.

At BRA we understand that almost without exception fees are likely to be a sensitive area during what is inevitably a difficult period for the business financially. Agreed fees will be reflective only of work undertaken following the formal exit meeting and will be charged in accordance with the implementation of the various stages of the agreed strategy, subject to prior agreement with your project manager.

At BRA we pride ourselves on our commerciality, flexibilty and transparency and our skills in returning your business to long term profitability. We support this policy by agreeing in certain situations a fee structure combining part payment in cash/part equity share or equity share alone.

How Do I Know I Need a Free Business Review?

Either your business or that of one of your clients could benefit from our free business review if it meets one of the following criteria: -

The business has sustained considerable trading losses and is under creditor pressure resulting in a mounting creditor base and exhaustion of its existing funding lines.

The business has sustained historical trading losses, but is now beginning to turn a corner and show signs of meeting its true potential. However, the management remain concerned about underlying cash flow problems and the overall cost base of the business.

The business requires temporary support from its bankers or financiers.

Although the business is trading reasonably well, it is not meeting its forecasted trading target or achieving your expectations.

The business is experiencing increasing demand for its goods and services, but is having trouble funding this increased growth.

At BRA we understand that no two businesses are identical. If your or your client’s problems do not fit into any of the above categories, do not hesitate to contact us to discuss the specific circumstances as it is highly likely we will still be able to help.

Is It Really Free?

All work undertaken within the review process is entirely free of charge including a verbal presentation of our findings and recommended strategy at a formal exit meeting. If following the exit meeting we are engaged to implement an agreed strategy, you will also receive a formal written report of our findings and recommended strategy free of charge. You will also receive a detailed letter of engagement highlighting the agreed scope of our instructions. If following the exit meeting you wish to receive a written report of our findings but do not require our assistance, a fee will be agreed reflective only of the time expected to be taken in writing up the report and not of the time spent gathering information during the free business review.