Why Business Restructuring is a Positive

With the improved economy your business should now be clearly seeing the upside having successfully survived what have been probably some of the most difficult years for doing business in Ireland. If you are not seeing the benefits of the improved economy something is clearly wrong with how your business is currently structured or managed.

Business restructuring is often perceived in a negative light as it is often associated with downsizing and redundancies. This is true in recessionary times however Business restructuring is often needed to embrace opportunities that are available for the business in the market place it operates in or aspires to operate in but cannot as the current structures are preventing it from doing so. From my experience of designing and implementing restructures in businesses they are often the most positive action to happen to the business as the businesses are typically reenergised and move forward following a clear strategic plan to deliver success without the barriers that prevented them from doing so previously.

We are often engaged by Clients to assist with resolving a problem that the business has which the owners/managers have been unable to identify the cause of or resolve. Upon investigation it often arises that the issue is not been caused by one single issue but multiple issues in how the business is currently run and structured. Our solution is often that a restructuring of the business needs to take place.

As part of our review we carry out a detailed financial analysis of the business and usually carry out a strategic review using the SWOT tool. These two key items will help us identify the causes of the issues and other issues that impact on the performance of the business. Once we have carried out the financial review and the SWOT we then design a Business Action Plan that will resolve the issues and allow the business to optimise its performance.

Interestingly, many of the Clients that we have worked with in recent times have a business structure in place that allowed them to survive the recession. This structure now is actually preventing the business from embracing and enjoying the improved economy. Our review process will clearly identify this and we will provide our Clients with a restructuring solution that will allow the business to prosper and embrace the opportunities that it was previously either not aware of or unable to exploit.

If your business is not optimising or benefitting from the improved economy or has issues that you cannot resolve please contact me and we can discuss how we can help you and your business to thrive.

Contact Tom Murray @ tom@tommurrayandassociates.ie or phone 086 6015042 to arrange an initial appointment