Case Studies - BusinessCare

The following brief case studies highlight the flexibility and benefits of the BusinessCare service.

Manufacturer and supplier of rubber components
Purchase of an existing business
Referred by a Business Advisor

This client had just bought a £1.5 million turnover company. He had worked in the same industry for a number of years and knew the company, which seemed to have a good track record.

Due diligence had thrown up no obvious problems, but as he had no prior experience of actually running a business, and as he was risking his house and savings in the venture, he asked IBC to help in a more detailed review of the company to identify where problems might arise in the future.

Having a lot on his plate already, his preference was to do the work gradually over a period of months, with the comfort of a simple fixed monthly payment and no tie in.

Together, we were able to build a detailed picture of the company much quicker than would otherwise have been possible, and identified certain areas that required immediate action. With our help, he saved a lot of time, worry and wasted effort.

Reassured that the business was on a sound footing, he felt confident enough to push ahead with further initiatives to expand the business, quicker than he would otherwise have done.

Engineering consultancy business
Preparing a time to pay arrangement
Referred by Businesslink

This long established professional firm had relied for several years on work from one major client. When the work dried up, the owner was slow to react and retained too many expensive staff on his payroll, in the hope that things would pick up.

He approached Businesslink when arrears built up with PAYE and VAT and they in turn introduced us to help analyse the situation, and the businesses future prospects.

We undertook a one-off review on a fixed fee arrangement, following which the client made numerous changes to his business, including improving his internal accounting systems and engaging some external financial support. We used the review as the basis for a report to HM Revenue & Customs, seeking time to pay the VAT and PAYE arrears.

This secured a 12-month agreement for the VAT arrears and 18 months for the PAYE arrears because the Revenue was reassured that proper corrective action was to be taken. Our client recently cleared his final payment, is now operating in credit with his bank - and is sleeping well at night.

Manufacturer of metal products
Post-insolvency review
Referred by an Insolvency Practitioner

We initially helped refinance this company and then worked with the directors on a step-by-step review of the business, to help them identify and mitigate any serious and unforeseen problems that might lead to further problems in the future.

Our experience in analysing risk made us ideally suited for this role and we were able to quickly identify some areas where immediate corrective action was required.

With our help the business is on a much firmer footing, and we have introduced an accountant, an IT support company, and a personnel advisor to provide further much needed support.

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