A zombie company has just enough money to continue operating and perhaps service debt but is unable to pay off debt. That means the business is just scraping by meeting overheads such as wages and rent and interest payments but has no excess capital or income to pay off old debt or invest in growth.
Does this sound like you?
Even before Covid 19 your business may have been getting by, phone calls and letters from the ATO pressure to meet superannuation and if you could get out of this deadlock then you could have a really great business, but right now you feel that you will keep struggling forward and keep going.
And then along came Covid-19 and the government stimulus package.
The tax department took their foot off the accelerator for chasing debt and started to do the reverse handing money out through JobKeeper and cash booster, and the pressure was off. You kept your business going and with the stimulus package you have managed to keep staff and keep what is potentially a good business going.
But with the end of the stimulus package coming up, or already arrived, you may need to do something now about your zombie company.
Bring that monster back to life and join the rest of us. Your Business Angels will be able to help you find a formula to negotiate, or restructure but at least we will get your business going without the pressures of the past so that all your hard work in keeping the company going in the market you have, can stay intact and you can trade forward to a better future.
Your Business Angels can help you go from just getting by, to really going forward
dollar got the bluesgettin lower every daydollar got the bluesgettin lower every dayi wanna do something about itfolks if i only had my way used to be 2 for 1now it’s 1 for 2used to be 2 for 1now it’s 1 for 2what in the world are we poor people gonna do? As the Reserve […]
Heads up – a tax debt can screw your credit rating
It’s official ATO tax default data is now included in Equifax commercial credit reports. Ok, the ATO has been “softly, softly” in collecting tax debt. If you haven’t arranged to pay down debt or do something else (with Our Help), you can now be punished by having your credit rating blown – and that could […]
Speaking with a client who runs several food outlets in SydneySpeaking Now is a time to be sensible. Foodstuff prices are rising, and in our conversation yesterday, we also talked about chicken, beef, and the lack of lettuces from the marketplace. We also talked about price rises that the market will stand. Having been hammered […]