by Jeff Shute27.04.20

All businesses are facing an uncertain future in the face of the COVID-19 pandemic and the effect it is having on revenue now, and predicted revenue for the preceding months and even years. However, we’re not just here to assist when things start looking dire. We can also help you in an advisory role to help avoid any irreparable damage to your business.

Here’s how Shaw Gidley can guide you through the effects of COVID-19.

We are experts in the field

When it comes to insolvency, we are not only skilled in navigating business owners through the process, but we are also able to predict possible and probable outcomes before they occur. In a time with so much instability framing the future outcomes, having professional insight is an invaluable resource.

Liquidation and administration is not business as usual

They’re terms we are incredibly well versed in, but we also can see that the path there is changing before our eyes. Business owners are already needing to make critical decisions in much shorter periods of time than is typical, and some are postponing the reality of liquidation and administration due to the swift trajectory of COVID-19 and its hit on business. However, we are looking at a need to act quicker than ever before and the path to liquidation, and in avoidance of it, needs a new framework to consider. We are ahead of the curve when it comes to this and can better explain to you what liquidation looks like during the pandemic, and in its aftereffects.

Help you understand your options

The government has put in place stimulus packages (such as the JobKeeper Payment stimulus package) and moratorium provisions (COVID contingency of the Safe Harbour service) to help assist businesses through the pandemic. We have made it a priority to have clear insight into not only what these options mean, but also the circumstances that best suit these options. It’s not a one-size-fits all solution, and it can mean the difference between keeping afloat and struggling to keep your head above water to truly understand where you stand.

Early advice is your best advice 

We cannot stress enough the importance of actioning a coronavirus contingency plan early. Being reactive instead of proactive can have dire consequences on your ability to see your business through this period. Early advice will get you ahead of the curve, as it flattens, not in its wake. Early professional advice is your best chance of seeing this through, and we can provide you this from beginning to end. We have remote processes in place to ensure we’re aligning with social distancing, while still keeping your best interests close.

Shaw Gidley are experts in restructuring, turnaround and insolvency and provide free initial advice on these matters. Please contact our offices on (02) 4908 4444 or (02) 6580 0400.