The directors of businesses large and small, having risen to the manifold challenges of the COVID-19 pandemic and associated lockdowns might have expected a period of calm to recover and rebuild. Instead, a cost-of-living crisis is hitting consumers, whilst a cost of doing business crisis is combining with pre-existing stresses to put a great deal of pressure on UK plc.
In a new report, Supporting productivity, transformation and business rescue in a post-pandemic world, we highlight the huge contribution IFT members make and the value they create for society and the economy.
We estimate that in 2022, IFT members and partners saved 81,800 jobs as initiatives to fix finances and revamp growth strategies bore fruit. Members also helped UK companies deliver more than £3.6bn of shareholder value.
Alongside this data, the report analyses the key stresses for businesses and showcases case studies for successful turnarounds, demonstrating the skill of members and partners, and the impact for business and people.
Despite the distinct benefits turnaround can bring, many companies remain reluctant to appoint a turnaround adviser until cash flow pressures are extreme, which can limit the range of restructuring option available.
This report seeks to underline the importance of early engagement with accredited turnaround professionals to UK plc in what is expected to be a particularly challenging period.
To download a copy of the report, please click HERE.