“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.
The Agriculture Industry is affected by climate and constantly changing economic and environmental conditions. How the Ag sector adapts to these external influences, will determine how successful they are despite these factors beyond their control.
There are many reasons why a business may find itself facing financial. Contributing factors can trigger a host of underperformance issues including declining earnings, liquidity and cash flow concerns, and stakeholder pressure. To a large extent, demand for restructuring and insolvency assistance runs counter-cyclical to the economic situation; when times are hard and businesses are struggling to fulfil financial agreements made in happier times. As we struggle in an economic downturn and a weakened loonie, many Canadian businesses are looking for debt solutions that allow them to manage their financial obligations and get back on track to driving growth.
Contact a Trustee
Find a local Office