If your business is experiencing financial difficulty, you may consider a small business restructure (SBR) as a path to recovery. This allows you to restructure debt whilst continuing to trade under your control.
It is important to recognise that SBR is a formal, time-bound process with clear legal requirements and responsibilities. Understanding what is involved is critical to giving your business the best chance of success. That is why we offer small business restructuring training and advisory – to help business owners and directors gain the practical, empowering knowledge they need to manage restructuring effectively.
If you would like to speak with a registered small business restructuring practitioner, you can contact us on 08 9215 7900.
What to Know Before You Attend
Is Restructuring Right for Your Business?
SBR is intended for businesses that are fundamentally viable but facing short-term financial distress. It is not a substitute for liquidation or a process to avoid debts indefinitely.
Before entering SBR, you should consider whether your business has:
An ability to generate sufficient revenue once debts are restructured
A viable market position or the potential to return to profitability
The commitment to meet the obligations of a restructuring plan
If your business does not meet these criteria, you may be better suited to other options, such as voluntary administration or liquidation.
Common Triggers for SBR
Businesses typically consider SBR when they experience:
Reduced revenue due to market downturns or supply chain issues
Increased debts, particularly tax debts or unpaid supplier accounts
Cash flow pressures that make it difficult to meet ongoing obligations
Legal demands or creditor action, prompting the need for urgent restructuring
SBR is more successful when these triggers are identified early, giving practitioners the time to draft and implement solutions.
Key Roles During the Restructuring Process
There are several parties involved in SBR:
Business owners/directors: Remain in control of the business but must cooperate fully with the process.
Small Business Restructuring Practitioner: An independent professional (such as those in our team) appointed to assist with preparing the plan and ensure compliance.
Creditors: Vote on whether to accept the proposed restructuring plan.
Accountants/advisors: May assist business owners in preparing financial records and providing guidance throughout the process.
With an understanding of these roles, business owners are able to manage their expectations and recognise what they are responsible for.
Who Should Attend our SBR Training?
HLB Mann Judd Insolvency WA has designed our program for:
Business owners and company directors considering or already engaged in SBR
Financial managers or controllers supporting their business through the process
Advisors who want to better assist clients undertaking restructuring
Whether you are approaching SBR for the first time or already involved in preparing a plan, this training will provide the clarity and structure you need.
What You Will Learn
Our Small Business Restructuring Training covers:
- The legislative framework for SBR and your obligations under the Corporations Act
- Eligibility requirements and assessment of business viability
- How to prepare and structure a Restructuring Plan creditors will support
- The role of an HLB Mann Judd restructuring practitioner and how to work with them
- Managing communications with creditors, employees, and other stakeholders
- Voting outcomes and what to expect once your plan is in place
- Life after restructuring - how to manage your business post-SBR
- Common mistakes to avoid during the SBR process
Benefits of Attending
Our training program is not designed to equip you to complete SBR on your own. Rather, our intention is to provide you with practical knowledge that quickens the process and helps you avoid costly missteps.
By attending this training, you will build confidence in your ability to manage your obligations as a director. You will improve upon your communication skills and learn how to improve your chances of achieving a positive outcome for your business.
Most importantly, you will be able to prepare an effective and reasonable restructuring plan with the aid of an SBR advisor
Ready to Take the Next Step? Enquire Today
If your business is considering Small Business Restructuring, early preparation is key to success. Our training will prepare you to approach the process well-informed and ready to meet its demands.
We provide this this education to all clients who approach us for business restructuring services. If you are unsure whether you are ready to begin the SBR process, we would still be happy to speak with you.
You can contact HLB Mann Judd Insolvency WA on (08) 9215 7900 or at info@hlbinsol.com.au.
