Growth & Development
CR Corporate Solutions was introduced to the Managing Director of a company providing products and services to the construction industry. The MD was keen to grow and expand his business, but regular changes in the management team had created instability and meant that the company was often internally focused to the detriment of successful growth.
Finance and financial management was poor and there had been a succession of "finance professionals" and external accountants. Suppliers were often chasing for payment and credit control was poor.
We worked with the owner over an intensive period and prepared a growth strategy, based on the anticipated growth that the MD knew was there. We also reviewed the existing management team and the requirements of the business – this necessitated the recruitment of two other senior staff.
We changed the financial management processes of the company and introduced new reporting and forecasting regimes, whilst also increasing the finance team by one person. Changes were also made to the IT infrastructure.
As part of the process, we have worked closely with the company's existing bank and have secured additional working capital facilities to finance some initial growth and the expansion of the team.
The project is continuing well and is in line with our proposed timescales. We expect the company will seek additional external finance over the next six to nine months, and we have agreed to continue working together.
Our ongoing role is focused on the strategic development of the company, and ensuring that there are sufficient people and financial resources to successfully grow.
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