Why is a Business Analysis or Pre-assessment needed?

A business analysis identifies and define the solutions that will maximize the value delivered by an organization to its stakeholders. In short it saves the company money by correctly articulating the need for change and prevent the risk that brilliant solutions are implemented for the wrong business problems

What is the difference between Business Rescue and Business Turnaround?

Turnaround refers to the steady and positive financial recovery of a Company that has been performing poorly. The project is often facilitated by an independent Management Consultant. Turnaround is an internal process not governed by legislation while Business Rescue are governed by legislation (Companies Act 71 of 2008)

When to start Business Rescue Proceedings?

The simple answer is, as soon as a company detects the first signs of financial distress. Financially distressed means when it is reasonably unlikely that the Company (or CC) will be able to pay its debts as they become due, or it is reasonable to assume the Company (or CC) will become insolvent within the ensuing six months. Business rescue proceedings are managed by a licenced Business Rescue Practitioner appointed with specific supervisory duties and responsibilities, according to the Companies Act 71 of 2008.