In Ontario, we’re finding that companies are experiencing little growth and while our local economy is not necessarily suffering, many businesses are challenged in terms of growing their businesses.
There are a multitude of reasons as to why an individual or business might be experiencing financial difficulties. It’s important to know that you’re not alone – and you have options.
“KYC” – No, it’s not a new chicken restaurant – its stands for “Know your client,” a sacred mantra taught to every banker as he or she embarks on their banking career.
When you’re working 24 / 7 to drive growth, it is not always easy to get a comprehensive picture as to your business’ true financial situation – and where it’s headed.
MNP recently hosted a webinar to discuss tips and insights which may help the industry plan for the future.
A recent survey completed by AlixPartners identified that the retail industry has been and will continue to be, the industry in the US most impacted by technology disruption.
While the story of Bre-X certainly played out like a movie script, like most Canadian scandals, it garnered little interest outside of the mining industry south of the border, especially, almost 20 years later.
Assessing whether your client is experiencing financial distress does not require access to detailed financial information, but rather facts which are readily available if you keep a keen eye and watch for them.
Ultimately, the purpose of any business is to make a profit. The value of any business is largely determined as a multiple of its profit or cash flow.
The number of corporate reorganizations that have taken place in the past decade has increased significantly in Canada. There have been several high-profile transactions that have raised the level of awareness of terms such as CCAA (Companies’ Creditors Arrangement Act), NOI (Net Operating Income), Proposal, BIA (Bankruptcy and Insolvency Act) and Chapter 11 to the ordinary citizen.
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