Services to the Board

The board is expected to monitor risk and evaluate strategic options available to the company. This responsibility becomes even more onerous when the company is experiencing liquidity concerns and a turnaround is required. It is imperative that the board receives clear, concise, accurate and transparent information in order to make well-informed decisions.

Palmer Business Concepts can act as an impartial facilitator, assisting with this process in the form of structured strategic workshops. These workshops are extremely valuable and are aimed at constructing sustainable business plans. At the conclusion, independent feedback is presented to the board.

Alternatively, Palmer Business Concepts can provide necessary operational insights into the effective implementation of approved business plans and the achievement of specific milestones. This can be particularly useful in circumstances where the board is concerned about the effectiveness of the management team and any contribution the management team may have made to the financially distressed situation of the organisation.

The board is also required to constantly monitor and confirm that the business is a “going concern.” If there are any apprehensions about future liquidity and sustainability, it is prudent for the board to consider appropriate turnaround strategies sooner rather than later. Palmer Business Concepts can assist in the evaluation of these plans and strategic choices. Pre business rescue assessments and the development of a strategy to manage the business rescue process can also be provided.

Business Rescue

Creditors and other affected parties need to be consulted on the development and implementation of any business rescue plan. Palmer Business Concepts can assist the affected parties in evaluating proposals presented by the business rescue practitioner for consideration.