Businesses of all shapes and sizes, will go through difficult times that are often out of their control. Political, economical and environmental impacts are all around us and can change the market in the blink of an eye. Australia, in recent years has seen catastrophic bushfires, political uncertainty and a global pandemic; all of which have affected businesses - some for the better and others for worse.

No matter the cause, quick action is essential if you find your business struggling.

For many businesses identifying or admitting financial hardship comes too late. Not facing up to the problem may ultimately cost a lot more than taking pro-active action. Early assessment of a potential insolvency may result in the business, or at least part of it, surviving.

Choosing the right form of external administration depends on the individual circumstances of the matter and in some cases, an informal appointment is all that’s required.