Companies in difficulty: solution to improve management

Business management is difficult. For several reasons, it is possible to fall into unfavourable situations. Strategies have been put in place to help business leaders overcome such situations. At the expense of agreements, there is the possibility of a temporary or partial closure of the company.

The importance of management for a company in difficulty

For a company in difficulty, improving management is the most practical solution to get out of a negative situation. It is advisable to seek external support in order to obtain the vision of a third party.  This may be a chartered accountant or an advisor. Next, it is crucial to determine the substance of the problem (commercial, cash flow, manpower, know-how or quality). A recovery plan must be carried out with the aim of improving the management of the business. It is a way to improve the quality, productivity, profitability, organization and cash flow of the business. The implementation of this reorganization implies a result in the economic field.  To achieve this objective, it is advisable to review the terms of negotiations with suppliers. As far as possible, the reduction of expenses and charges are prioritised

Remedial procedures: methods to be used in the event of difficulties

There are ways to turn around a business in need. These means are subject to conditions to be realized. To grant the Ad Hoc Mandate procedure, the company must not be in suspension of payments. Following a request, an amicable agreement will be reached at the Commercial Court. This is an autonomous procedure for the prevention of companies in difficulty. The head of the company plays a crucial role in the appointment of the representative. The entrepreneur can resort to a second option.  The conciliation procedure is a possible solution for companies in difficulty when the financial problems are manageable. It is an attempt to reach an agreement between the conciliator and the creditors in order to find a new agreement in the negotiations.

In case of difficulty: the granting of aid is possible

To save a company in difficulty, the entrepreneur can opt for public aid.  The State can intervene under certain conditions on the payment period. Indeed, it is possible to obtain additional delays for the payment of social security charges and taxes. It is possible to obtain exemptions from taxes and duties as well as a reduction of duties. The State can also participate in the capital of the company. There are business support committees, local aid, partial activity allowance, support for economic change, and the Association for the Protection of Independent Business Owners. The business support committees allow companies to obtain loans or audits depending on the conditions. The role of the aids is to seek financial solutions for business management to enable them to get out of the present difficulty. It is an opportunity to restart and improve in these activities. It is therefore a question of finding means and actions in favour of the company.
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