23,500 companies to go bankrupt this year: Can business turnaround specialists come to the rescue?

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With an estimated 23,500 companies expected to go bust in the UK in 2013, the new Business Turnaround Group aim to support UK Businesses from Financial Troubles.

We feel that in developing a broad understanding amongst the company’s employees of our transformation process, that the company itself will not only weather short term difficulties, but become more robust for the long run too

In the current economic climate, it can be increasingly difficult for businesses to record good margins and more and more businesses are having to accept that their company is performing poorly. This often leaves business owners with the feeling that their company is the only one that is struggling and that there is nothing that can be done to reverse their fortunes.

This could not be further from the truth however; a recent government investigation revealed that 23,500 UK firms are in danger of going bust within the next year. The majority of these businesses are established, well run operations that have fallen foul of the age of austerity that we currently live in. The figures only go to show that there is no shame in admitting that your business is struggling and that help is required in these dark economic times.

Many business owners do not realise the benefits of seeking professional help to draw up a business turnaround action plan. Every year only a small percentage of struggling companies choose to bring in business turnaround experts – often feeling that the stigma of failure, a mistrust of turnaround firms and concerns surrounding bringing in ‘outsiders’ dissuade them from hiring a business turnaround professional to assist with a company transformation.

However, these concerns can be irrational and counter-productive – particularly if the company can find a partner whose motivation is to support the company is transformation, but also to develop the necessary skill-base to protect the long term. The Business Turnaround Group, (BTG), are one such partner - committed to helping struggling businesses to get back on their feet.

BTG was formed just over a year ago when Chairman Steve Shoulder came to old friends Steve Ellis and Ken Padgett and presented them with a platform with which they would be able to assist multiple struggling businesses at the same time. Between them, the three have decades of business turnaround experience and were excited by the prospect of being able to spread their message to a greater base of companies.

One of the most unique and interesting aspects of BTG’s strategy is that they look to give management staff comprehensive business turnaround training. Not only does this give staff the opportunity to understand where their firm was going wrong and how to rectify the situation, but they are also left with the necessary skills to rectify any future issues should the firm find themselves in trouble again later down the line. ‘We feel that in developing a broad understanding amongst the company’s employees of our transformation process, that the company itself will not only weather short term difficulties, but become more robust for the long run too,‘ said Steve Ellis, of BTG - ‘Our 8 step improvement process is intentionally simple to adopt, to implement and therefore to deliver a result‘.

If your business has been affected by a difficult financial situation, there is no shame in asking for help. If you’re interested in contacting BTG to find out more about business turnaround or to make an initial enquiry, please visit http://www.businessturnaroundgroup.com or contact, steve.ellis(at)businessturnaroundgroup(dot)com, steve.shoulder(at)businessturnaroundgroup(dot)com or call 01244 893154.

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Steve Ellis

Steve Shoulder
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