Business crisis management
Understanding and Managing Business Crisis Jacob&Stuart’s business crisis management service helps companies promptly detect signs of difficulty and plan strategic interventions to safeguard business continuity. Based on the Business Crisis and Insolvency Code (Legislative Decree no. 14/2019), our approach allows for early diagnosis of business problems, thanks to advanced analysis and monitoring tools.
The Corrective Decree of the Business Crisis and Insolvency Code was however published on 5 November 2020 in the Official Gazette (Official Gazette no. 276) and has already significantly reformed both the so-called corporate law of the crisis both on the definition of crisis and its indicators, as well as on institutions such as tax settlement.
What is a Business Crisis?
A business crisis represents a state of economic-financial difficulty that can lead to insolvency. This critical phase manifests itself with liquidity problems, difficulties in accessing credit and loss of stakeholder confidence. Business crisis management aims to intervene before the situation becomes irreversible.
Purpose of the Business Crisis Code The Business Crisis Code aims to:
- Facilitate an early diagnosis of the state of difficulty, thanks to alert procedures that identify economic, equity and financial imbalances.
- Ensure business continuity, protecting activities and protecting entrepreneurship during crisis situations.
Crisis Indicators and Alert Procedures For effective corporate crisis management, it is essential to monitor the alert indicators, such as delays in payments and financial imbalances, which signal a possible state of crisis. The timeliness in detecting these signals allows corrective actions to be taken, reducing the risk of failure.
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