Can I Be Held Personally Liable For Company Debts?
In our previous articles, where we help business owners and directors navigate various financial challenges, we discussed the importance of consulting with a licensed insolvency trustee (LIT) and the various options available when experiencing financial…
My Company Is Insolvent—What Are My Options?
After running the numbers, you’ve determined your company is insolvent. With that in mind, what are your options as a business owner? Although it may seem like a dire situation, there can be positive…
Capital Reserves: How to Win with Your Balance Sheet
It’s always good to have options—especially when the unexpected happens. In his latest article, Derek Church compares the parallels of military and business tactics. While these may seem like completely different worlds, there…
Managing Stakeholders’ Expectations When It Matters Most
During the best of times, communication with stakeholders is vital. During an economic downturn, like the one we are currently experiencing, it’s even more critical that we keep interested parties up to date. Allan…
COVID-19 Financial Relief for Businesses
It’s not unusual for businesses to face financial challenges and require additional financial support. However, with the financial strain of the COVID-19 pandemic, more businesses need financial assistance than we’ve seen in…
Triage Before Turnaround: Cash & Assets Control
In this last installment of our four-part series, Paul Denton continues to provide suggestions on how to stabilize the overall situation of a distressed business with hopes to implement a successful turnaround. Namely, how…
How to Regain the Initiative Amidst Uncertainty
Uncertainty—it’s a word no business likes to hear, but it’s been dominating the headlines for weeks now. From the COVID-19 pandemic to the oil war between Saudi Arabia and Russia, businesses…
Triage Before Turnaround: Safeguard Assets
Once the cash conservation program and a competent and committed leadership team has been established, Paul Denton suggests identifying and safeguarding your assets. In the first two parts of this series, we discussed…
Triage Before Turnaround: Management Buy-In
When a business is in distress, it’s imperative that leaders proactively confront the situation. Once the cash conservation program has been established, Paul Denton suggests seeking management buy-in is…
Triage Before Turnaround: Cash Conservation
When a business is in distress, it’s imperative that leaders proactively confront the situation—buying time to implement a sound turnaround plan. Paul Denton suggests …