Small Business Restructuring Practitioner

Small business restructuring practitioner

Small Business Restructuring Practitioner
We'll help you navigate the tough times

The Federal Government has introduced a new Restructuring Process designed for small business.

Very few businesses came out of 2020 unscathed, with COVID-19 lockdowns forcing closures and restricting the movement of people across the country and internationally.

Particularly for businesses in industries such as hospitality and tourism, the damage caused by the pandemic has left many business owners in a difficult financial situation.


Greg Dudley
National Head of Restructuring & Recovery

T: +61 8 9261 9271
[email protected]

How can we help you?

While temporary measures and incentives, such as relief from certain insolvent trading liabilities and the introduction of JobKeeper did provide some relief, these measures have since ended or are set to end on 28th March, 2021. Now’s the time to have someone in your corner – an advisor who provides clarity amongst the murkiness of insolvency, stress and indecision.

When to engage a Small Business Restructuring Practitioner?

Ideally, you should reach out to a restructuring specialist as soon as you become concerned about your company’s ability to stay afloat.

The faster you start a conversation, the more options will be available to you. There is also a limited window to start the process before you could become personally liable for insolvent trading.

Some signs that it’s time to start a conversation could be:

  1. You are behind on debt repayments
  2. You’re struggling to pay tax debts
  3. You’re worried about employee entitlements
  4. Expenses frequently exceed revenue
  5. You want to assess the ongoing viability of your business
  6. Your business was struggling before COVID-19
  7. You're worried what will happen when JobKeeper ends or other creditor support stops
  8. Your industry has been heavily impacted by COVID-19

With this in mind, the Australian Government introduced legislation on January 1, 2021 which offers new avenues for small businesses facing insolvency (cannot pay their debts).

When to engage a small business restructuring practitioner

One of these new avenues is the small business restructuring reform. Under the reform, eligible business owners can work with a Small Business Restructuring Practitioner to implement a debt restructuring plan. The goal is to keep the company trading while resolving crippling debt.

RSM offers Small business practitioner

What to do if you are in financial difficulty

10 May 2022
Your cash flow has dried up. You have mounting debts. You aren’t sure if the government will provide more support. You don’t know what to do next. Your stress-levels are through the roof.

Business Crisis: Where to start?

10 May 2022
We continue to assist business owners to prepare and respond to crisis that may arise in their business.

RSM Business Protect Series – Do you need to wind up a solvent company?

1 April 2022
RSM’s Restructuring & Recovery team at Port Macquarie on the mid-north coast of NSW is seeing an increase in enquiries from members/shareholders seeking to minimise their tax burden, or safely bring their company to an end via a Members’ Voluntary Liquidation process.

Construction companies urged to take notice as leader enters administration

4 March 2022
Last week, we learned that one of Australia’s largest construction companies, Probuild, has entered sudden administration with no warning to subcontractors. A long list of factors have likely played a role in the company’s demise, including delays due to lockdowns and increased labour and materials costs. 

Predictions for Regional Australia in 2022

18 February 2022
Looking at regional Australia, 2020/21 saw some communities face floods, mouse plagues, and the fallout of the global pandemic that hit the tourism sector hard.

When business is bleak, know your options

13 January 2022
If debt is piling up and creditors keep calling, it may feel like the easiest thing to do is ignore it and hope it goes away. However, getting advice early on could make all the difference in achieving a successful outcome. 

What will 2022 look like for small business owners?

6 December 2021
Many Australian small business owners are entering into a recovery mode, grappling with the economic fallout of the COVID-19 crisis and preparing to forge ahead - but 2022 continues to look uncertain for some.

Protecting subcontractors against rising insolvency in construction

2 December 2021
With established builders entering external administration despite a construction boom, what does this mean for your subcontracting business?  Here are a few things you thought you’d never hear: People fighting in supermarkets for toilet paper

RSM Business Protect Series – Are you a supplier? How to limit bad debts. 

29 November 2021
RSM’s new Corporate Advisory Hub at Port Macquarie on the Mid-North Coast of NSW is continuing to see an increase in enquiries from business owners that are looking to protect themselves in business.

The Rising Risk of Personal Liability for Directors and Business Owners

28 October 2021
Do you need to better Protect Yourself in Business? RSM’s new Corporate Advisory Hub at Port Macquarie on the Mid-North Coast of NSW is seeing rising enquiries from business owners that are looking to protect themselves in business.

Liquidation or bankruptcy: sometimes it’s for the best

20 October 2021
Going into liquidation or becoming bankrupt can seem like terrifying prospects - but in some situations, it’s for the best.

Mandatory Director ID Numbers

19 October 2021
What is a Director ID? A Director identification number (Director ID) is a unique identifier you need to apply for once and will keep forever. It will help prevent the use of false or fraudulent director identities.

Business recovery or liquidation?

28 September 2021
Business recovery or liquidation? Understand your options early ‘We’re all in this together’, has been a common catch cry during the pandemic, but as 2021 nears its end, some business owners may be feeling more alone than ever and unsure of their options.

Your best ally in the worst times

23 September 2021
This month, The Restructuring and Recovery team had a Q&A session with Mitch, who is based in Queensland and has over 20 years of experience in the insolvency profession. He is a straight-shooter; an honest and upfront professional who is helping business owners, many of whom are facing their worst times in business. Ever.

Australian small business owners matter

17 August 2021
Australian small business owners matter: how you can support them Our RSM Recovery and Restructuring team know and appreciate how important small business is to Australia’s economy.