With over 25 years of legal experience focused primarily on helping clients deal with financial hardships, the attorneys at Gillman Bruton & Capone, LLC, have obtained a certain level of expertise in these matters. We understand what factors cause a business to fail and what factors, if present, can aid in a businesses’ success.
In helping many of our business clients attempt to reorganize through a Chapter 11 proceeding, we are intimately involved in assisting our clients with preparing budgets, cash flow projections, analyzing accounts payable and accounts receivable. During this process we often have to counsel our clients on what expenses need to be cut, what contracts and/or clients need to be dropped because they are money losers, what assets need to be sold or surrendered and what employees need to be let go or in some cases new employees hired.
Additionally, in having filed many hundreds of bankruptcies over the years that were caused by failed businesses, we have acquired a deep understanding as to why businesses fail. We also understand that many of these businesses may have survived had they just had better planning, but sometimes that better planning can only come from experience. Experience that a new business entrepreneur often does not possess.
A common mistake that we see time and time again is a business owner continuing to throw money at the problem. Sometimes this money is from personal funds, savings, etc. and sometimes it is from credit sources (credit cards, personal loans, lines of credit, etc.). This is rarely the answer and in fact, usually masks and compounds the real problems with the business and puts even more financial pressure on both the business and the principal.
Gillman Bruton & Capone, LLC want to put our experience to work for your business by offering advisement/consulting services for both new or existing businesses. If your business is presently struggling, the sooner you seek help the better chance you have of saving your business or at the very least, limiting the financial damage that you, as the principal, may incur.
Most business owners are too close to the situation to see the problem or worse yet, may see the problem but don’t want to make the hard decisions that are necessary to move forward. This is where the Business Advisement Services offered by Gillman Bruton & Capone, LLC can be invaluable. Let us analyze your business and help you navigate those tricky waters of business ownership.