The IFT has contributed expertise for a new guide published by Lloyds Bank for Business. Turnaround – Seizing New Opportunities is a free book designed for SMEs to boost stabilisation and growth after two difficult years, and can be accessed here.
Our chapter outlines the key components of a successful turnaround, and provides advice on how to secure proven external expertise through the recovery and growth journey.
IFT accredited members and partners have worked hard to help businesses navigate the immediate financial and operational difficulties arising from the pandemic. IFT independent turnaround directors and corporate partners helped companies save over 200,000 jobs in 2020. However, the proportion of distressed companies seeking turnaround management services remains very low. If just 4.5% more distressed firms sought our members’ support, we estimate that jobs saved could be 10 times higher.