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Sound advice from James Millar and Chris Brodie.

Do NOT skimp on a good accountant.

In my finance practice, when I am dealing with turnarounds, 2 common things show up:
1. the business owner didn’t understand his/her financials
2. the financials are wrong!

And until the financials are fixed, the banks aren’t interested in having a discussion about providing further support. Wrong time to incur more expenses getting the accounts fixed at that time, given all the other demands on cash flow at that critical point!


Siu Ling