Recovery assistance for the struggling Social Enterprise
Experience confirms the growing numbers of Third Sector organisations in financial difficulties are typified by a common delay in remedial action and the inevitable rush towards urgent recovery plans. Our Business Recovery service is designed to address the issue at an early stage by providing specialist support to review options for recovery.
How support from Just Enterprise can help
Financial difficulties can arise through a number of reasons:
- the loss of a major contract
- an inability to collect debts
- poor financial planning
- inadequate financial processes & procedures
- lack of periodic financial review
If you find yourself in a poor trading position Just Enterprise will assign an experienced adviser to work with applicants to identify the source of the problem, conduct a diagnostic review of the business, make recommendations for implementation and hold regular follow-ups to assess progress.
Are there any specific eligibility criteria?
This service is for enterprising organisations that have been subject to a significant change resulting in financial losses and where both unrestricted reserves and cash balances are dwindling. These circumstances may have been brought about by poor financial planning or the loss of a major contract. The service IS NOT for organisations that rely on grant funding to support their core services.
How will the service be delivered?
The service is adviser-led. The Just Enterprise adviser will engage with board and relevant staff to develop a plan for recovery. This is an inclusive process where the adviser will need access to ALL relevant information in the business and may involve communication with staff at any level.
What outcomes will recipients benefit from?
Dependent on circumstances and the nature of the issue, one or more of the following actions may be taken with successful applicants:
- A full analysis of the business - operational and financial
- Complete assessment of internal practices, procedures and systems
- Recommend 'best practice' for implementation
- Engage with staff to apply 'best practice'
- Review financial planning in the organisation
- Recommend and help implement planning tools for management and board
- Complete cash forecast
- Identify training needs
- Agree a recovery plan
The time for action is now!
Nothing is achieved from staring at a spiralling problem - Apply now and together we can begin the process of re-building your Social Enterprise.
Telephone: 0141 425 2939