Loss of financial control with falling revenue or profits and increasing debt in the business resulting in concerns with it being a going concern
Lack of strategy on how to sustain or grow the business successfully
Failure to identify and manage emerging risks such as industry disruptions or changing market dynamics
Some of the challenges faced may include:
You need help! Who are you going to call? BDO, of course!
Do you want to change direction and pursue a forward-looking trajectory?
Sell out?
Partner with someone who can reinvigorate the business?
BDO offers comprehensive support to clients across various disciplines. While our brand is renowned for delivering exceptional audit and tax services, we also provide advisory and outsourced services that enable management to concentrate on business operations and achieve company success.
The following information covers the Decline phase:
Or simply close down and enjoy retirement on a beach?
What does a declining business mean for you?
High turnover or lack of engagement of key personnel or senior management
Some businesses endure indefinitely, continuously adapting to their environment. However, others have a finite lifespan, whether due to technological advancements, changing trends, or an owner’s desire to retire.