Entrepreneurs who were considering restructuring have gained further arguments for taking corrective action. Any day now, the Sejm should vote on the draft act on granting public aid for the purpose of rescuing or restructuring enterprises. Companies will receive additional financial support and tools to facilitate the restructuring process.
After a period of waiting on the part of the corporate sector, the issue of assistance in the restructuring process companies were taken up by Polish authorities. On April 29 this year, the first reading of the bill took place in the Sejm an act providing for the possibility of support from public funds restructuring processes in companies that undertake corrective actions in connection with crisis situations.
– Annual aid from the state budget in the amount of PLN 120 million for 10 years will be allocated, among others, for rescue, temporary restructuring support and restructuring. This is an important step towards supporting entrepreneurs, which will certainly facilitate the implementation of recovery plans. However, we hope that this will be one step of many – emphasizes Małgorzata Anisimowicz.
A good restructuring plan is the key to avoiding bankruptcy
In the draft bill, it is important to develop a real rescue plan in order to obtain financial assistance from public funds.
When developing a restructuring plan, external support from an experienced restructuring advisor and an interdisciplinary team appointed by him, including specialists in financing, accounting, taxes, market analyses and experienced negotiators, may prove valuable.
– Cooperation in the field of protection of the company is, above all, awareness of its specificity and individuality. Experience in conducting restructuring processes allows for the use of proven instruments and often achieving greater effects than anticipated in the decision to take restructuring of company boards. Especially if comprehensive service restructuring is ensured within one company – from the stage of decision on the intention to restructure to its final result, taking into account support in obtaining financing – explains Małgorzata Anisimowicz.
Aid from the state budget to rescue or restructuring entrepreneurs are long-awaited changes, undoubtedly going in the right direction. If amendments to the bill are adopted, the act will enter into force 14 days after its announcement. In a situation of bankruptcy threat, time is of the essence. Therefore, the sooner entrepreneurs start planning remedial actions, the greater the chance of their success.
on May 11, 2020. We invite you to read the full version:» The state will help companies in restructuring, but businesses are waiting for more
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