O’Brien Palmer is a firm of business turnaround specialists. We are technically trained in insolvency administration, but generally we’re just accountants and normal business people!
Who Are You?
My name is Liam Bailey, I am the Managing Partner of O’Brien Palmer. My formal qualifications are that I’m a registered liquidator and trustee in bankruptcy. But that’s really only a very small part of what I do.
I really enjoy meeting Accountants and Business Owners and talking about what’s going on in their businesses, and working out if there are ways that we can help them survive in this tougher economic climate.
Who Do You Help?
Most of the people that we work with are Company Directors and Small Business Owners, We’ve worked on companies like Pie Face, and Elderton homes, and we work with:
- small businesses with one or two staff members in them
- subcontractors in the building industry
- people working in hospitality
- people working in retail
- any type of small business in Australia… we would worked with them at some point.
At What Stage do you Help?
Anybody that’s experiencing financial difficulty and stress from the earliest phases that are starting to be concerned about whether or not you’re collecting money from your customers, all the way through to it’s a screaming emergency, and I’ve been taken to court! We can help you with all of those situations.I personally take the most satisfaction out of helping turn businesses around. And we have the most success if we get consulted with early. If you’ve got a business worth saving, it’s because it’s got resources and it has options. The later you leave it to ask for help, the less options that you have available.
Case Study 1:
The last few years have been really difficult for a lot of Small Business Owners in Australia. And it’s been really satisfying to help people overcome these difficult times. COVID in particular was very challenging time. One business owner came to us working in the hospitality industry, in festivals and events. They had a business building market stalls and stages. And obviously their industry was decimated by the lock downs and the lack of confidence in public life that people had after that.
We were able to obtain them very significant debt relief through the voluntary administration regime. We allowed them to not only enter into payment arrangements that allowed their businesses to survive, but their tax bill was halved and they were able to come out of this era with a clean balance sheet and a fresh start. Now they are back out there trading with new stages, new staff and a whole new lease on life.
What Business Tips Do You Have?
My number one tip for you if you have a business which is struggling at the moment and if you’re feeling business stress, is don’t give in to the inevitable temptation to stop utilising business support services. Your accountant is the number one person that you should be turning to in times of difficulty. But unfortunately, they’re the people who most often people forget to talk to, because they don’t know how they’re going to pay those bills.
Your accountant will make sure that you are able to pay your bills, that you’re not trading your business in a way that’s exposing you to significant liability, and ensure that there is a point to you trading your business. You put a lot of energy into trading that business and if it’s not paying for you, you have to ask yourself is continuing with this business the right thing to do?
What Makes OBP Different?
O’Brien Palmer is a very professional and highly skilled firm, but also incredibly approachable. This doesn’t need to be a daunting and intimidating time. We are here to help everybody that’s affected by business stress. You, your creditors, your employees… everyone that’s impacted by these stressful times. We are here to help them understand what their options are and how they can help you turn your business around.
We genuinely care about the outcomes for people who come and consult with us. We strive to be completely transparent. And we strive to provide you with all the information that you need so that you can make informed decisions and plan for realistic outcomes. We want to approach the situation with compassion. We want to empower you to develop strategies for your business turnaround and the way forward for you and your family.
How Can I Get In Touch?
Your circumstances are stressful enough. Dealing with an Insolvency Practitioner doesn’t have to be even more stressful than that get in contact.
Check out our website www.obp.com.au. Give us a call. We’re very happy to set up a conversation with you. We don’t charge and there is no obligation. Let’s have a chat about the options that are available to you as you turn your business around.
Liam Bailey, Managing Partner