To keep up with a rapidly changing profession, economy and society, the ABRT must be adaptive too. The restructuring and turnaround profession should not stand still.
In order to stay relevant – to our members, our stakeholders and the broader economic, social, and political landscape in which we operate – and to be at the peak of professional standards, it’s vital we collaborate to determine what needs change and how we approach it.
The nature of business restructuring and turnaround is changing. There is a greater emphasis on early intervention with struggling business owners. This not only protects and preserves business goodwill, value and jobs, it can also help business owners’ health and general well-being.
The recycling, sculpting and reinvention of viable business models is essential for encouraging entrepreneurial risk, developing talent, protecting jobs and sustainable economic regeneration.
There is growing support for creditors to support a turnaround and restructuring initiative prior to a business utilising formal insolvency procedures. Efficient restructuring and turnaround systems play a fundamental part in helping economies transition between economic cycles. Australia must continue to develop a world-class framework so it can keep up with other jurisdictions.
The restructuring and turnaround profession has its own insights on the economy to share. The ABRT will make sure members’ voices and views are heard by policymakers, the media and other key stakeholders.
ABRT Members are encouraged to put forward their submissions for consideration by the Board (email firstname.lastname@example.org).