Small Business Restructuring Plan
Take Control of Your Business Debt with Expert Restructuring
If your business is struggling to pay its debts, a Small Business Restructuring Plan may be the right option for you. This option gives business owners the time to put forward a plan to creditors to pay off their debt, either in full or in part, over a 3 year period. The Small Business Restructuring Plan allows business owners to remain in control of their business, however under the supervision of a Restructuring Practitioner (such as Insolvency Options).
Insolvency Options will provide the expert advice you need about the restructure of your business and what is involved. We work with you to prepare, propose the plan to creditors, implement and see the Small Business Restructuring Plan through to completion. This is to ensure the process runs smoothly and all debts are paid off within the necessary timeframe. Insolvency Options are experts at relieving business owners of their financial pressures.
With a Small Business Restructuring Plan, we are able to work with you to get your business back on track.
If you are unsure whether you meet the requirements, please book in a free consultation with Insolvency Options.
Call 1800 463 328 and we can discuss your business debt solutions today. Visit our FAQs for more information on Small Business Restructuring Plan.
Are there eligibility requirements for a Small Business Restructuring Plan?
To benefit from a Small Business Restructuring Plan, there are eligibility requirements (must satisfy all requirements).
- The business must be operated by a company
- Total liabilities must be less than $1 million to creditors (excluding employees entitlements)
- All employee entitlements including superannuation are up to date
- All tax lodgements are up to date
- The business must not have previously undergone a Small Business Restructure or a Simplified Liquidation process in the past 7 years
- Both the current and former company directors acting within the past 12 months must not have been a director of a company that has utilised a Small Business Restructuring Plan or a Simplified -Liquidation in the past 7 years
Frequently Asked Questions
Other Corporate Debt Solutions
When faced with business financial stress, we know things can be daunting. However, under the circumstances you may want to continue trading but don’t know how. Alternatively, you may want to wind up your business affairs or you may just need some advice.
Insolvency Options are the experts you can turn to when you need help.
Corporate Debt Solutions
Book Your Free Confidential Consultation
We know taking the first step to call for help is not easy.
Our initial step in your consultation is to listen to best try and understand your situation. Your confidentiality is just as important to us as it is to you.
Our consultation also covers what your options are; the benefits, considerations, costs and expected outcomes of each option. Anything that you have disclosed to us during this consultation is kept completely confidential.