Insolvency Help for Business Owners & Sole Traders

Who We Help

Business Owners & Sole Traders

Increase business resilience with the insights needed as things continue to change.

Here to help all business models and structures in all industries and locations, bar none.

Saying it’s been a hard two years for business owners is beyond an understatement. There's never been a time like now, to have someone in your corner an advisor who provides clarity amongst the murkiness of insolvency, stress and indecision.

How we can help

Positive options start with a conversation

We’re experts at insolvency and restructuring and take pride in impartially leading our customers through their stressful journey. Before being appointed, we always provide a clear picture of what options a business may have. Where appropriate, we help turn around a business with a deteriorating or difficult financial position.

Many times our conversations end with reassurance, a clear path forward, and stress relief.

Early intervention matters

Knowing when to make the call for help

Business owners are a tough breed and independent by nature, so that makes it difficult when deciding you might need a helping hand to change your situation.

There’s some critical signs that you should look out for.

5 signals that indicate business stress

1. Falling behind on payments due to cash-flow blockages
2. Stressed relationships with key suppliers
3. Juggling issues with the Australian Taxation Office (ATO)
4. Key business leaders/managers checking out or becoming overwhelmed
5. The stress creeps into your personal life

FAQs

Some questions you may like answered

What does a sole trader structure mean?

Given the sole trader structure is relatively easy and inexpensive to set up, it's a popular choice for many Australians. A sole trader is legally responsible for all aspects of the business including any debts and losses and day-to-day business decisions.

What does a company structure mean for debt liability?

A company business structure is a separate legal entity, unlike a sole trader or a partnership structure. The company has the same rights as a natural person and can incur debt, sue and be sued. But directors have various duties and are personally liable for certain debts. Go to our knowledge base to learn more.

Did COVID-19 change anything to make it easier when under financial pressure?

Yes, in January 2020, insolvency laws changed for the better.

The ongoing COVID-19 economic environment is both tough and confusing for many businesses and the government made changes to allow your company to restructure debt more easily to weather the storm (and stay in control of your company). If things are too tough and you need to close, the new legislation changes make it more straight forward for businesses to wind up, with less costs.

Go to small business restructuring and simplified liquidation to learn more.

Insights