Debt Restructuring in Difficult Times
An Alternative to Insolvency
Against a backdrop of serious financial challenges presented by the COVID-19 pandemic, many businesses are facing a difficult decision on their financial futures. If a permanent closure is something that has crossed your mind, have you considered debt restructuring options to help weather the storm?
Small businesses have several restructuring options available to them to stave off closure. However, in order to make the right decisions, you need to understand concepts and terms such as incorporation, personal guarantees, secured vs unsecured creditors, deemed trusts, forbearance, insolvency, receivership and bankruptcy. Join Jonathan McNair CPA, and discover what a formal restructuring of your business entails, as well as informal options you may have at your disposal.
Having a system and structure to move beyond your current difficulties may mean better days ahead for your business.
What Will I Learn?
The relationship between incorporation and personal liability
What it means to provide a personal guarantee for a business
Critical factors and steps in a formal restructuring of your business in the face of severe financial hardship
November is Free Education Month at Small Business BC
In partnership with WorkSafeBC, the entire month of webinars and Talk to an Expert sessions are free in November! It’s first come first served, so do register early to avoid disappointment.
At Small Business BC, our number one priority will always be the health and safety of our clients, staff and service providers. As a result, we continue to deliver all our services online, or over the phone until further notice. View our resources for getting Back to Business, or connect directly with a business advisor through our COVID-19 Support Service.
Please note: all webinar participants will also receive access to a recording for seven days after the live session.