How to turn around a struggling business

If your business is showing signs of getting into trouble - eg difficulties finding cash to pay suppliers, constantly up against borrowing limits - there are plenty of ways to bring your business back on track. If you act quickly and smartly, you can maximise your chances of turning your business around.

You need to identify the problem and all your options to solve it. Planning is important to test your proposals and make sure they are viable. Planning is also essential if you hope to get financing to fund expansion or cover your expenses until you are back on track. See tips to improve business cashflow.

This guide outlines a number of ways you could rescue your business if it is in trouble, how to recognise when your business is beyond saving and how to exit in a way and a time of your own choosing.