Who can help you refinance your business?
Are there state incentives to recover companies?
The recovery of companies encompasses all aspects inherent to the restructuring of a business, when the company’s liabilities start to be higher than the assets. There, the risks of defaulting on their obligations start to be high, hence the need to redefine strategies and seek incentives for the recovery of companies.
Support & incentives for business recovery
It is possible to establish the necessary time for redirecting the business, as well as for the development of goals aimed at the company’s sustainability. There are several mechanisms available in national legislation for the recovery of companies, and it is through the adoption of the most appropriate tools for the type of business that a business will be allowed to survive.
Support for company recovery
Using both the judicial and extra-judicial channels, there are several methods that allow the recovery of companies, with the Recovery Plan provided for in the Code of Insolvency and Company Recovery. Thus, it is imperative to know all the support available in current legislation, so that these supports help to revitalize the business.
These incentives to recover the company are the foundation for the company’s restructuring and recovery processes.
Insolvency in a business is a natural risk in all businesses, so as far in advance as possible it is necessary to draw up contingency plans. When the financial situation gets complicated, any company can resort to insolvency as a payment suspension mechanism, for a period of time, in order to allow the company to have a deadline to restructure the business, resorting to incentives to recover the company.
Stabilization and company recovery
The extra-judicial Conciliation procedure aims to conclude an agreement between the companies and their creditors, allowing the same to be the target of recovery. In this support measure, IAPMEI plays a mediating role, providing incentives to recover the company.
Settlement of debts to Social Security
In cases of crisis or insolvency of a company, Social Security provides for the settlement of debts, through payment in installments.
Company reorganization and recovery
The Integrated Intervention Office for Business Restructuring (AGIIRE) focuses on business restructuring and the difficulties that arise from that. AGIIRE identifies possible restructuring solutions and supports those that allow for a modernization and revitalization of the business environment.
In case of financial difficulties, and with the objective of recovering the company, the employer may request a temporary reduction of the normal working periods or suspend the employment contracts, if these measures allow an action plan for the recovery of the company that allow to make viable. If it is a difficulty unanswered at the market level, the company can resort to collective dismissal.
Insurance on wages
A Salary Guarantee Fund is available for companies undergoing recovery, which guarantees the payment of credits due to the employee, in case the employer is declared insolvent.
IAPMEI has a technical and financial support service available for SMEs, with the guarantee of the company’s recovery.
Revitalize the company with Dual Up Consulting
When carrying out a business recovery program with Dual Up Consulting, your company will be able to account for several factors that will enable the return of business success.
To create critical mass and funding for your project, Dual Up Consulting considers the following:
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