Member Article

Sevenoaks Business Expert Pledges Help for Struggling Firms

Sevenoaks Business Expert Pledges Help for Struggling Firms in West Kent and Surrounding South East Region.

Sevenoaks business expert Tom Phillips has recently achieved membership with the Institute for Turnaround (IFT). The Institute is a membership body comprising individuals and organisations dedicated to helping businesses in difficulty to transform, improve and turn around. Membership is only granted following a rigorous accreditation process.

Tom says that he has joined IFT to help support the local economy, and as a reflection of his commitment to protecting jobs and returning the region to its full potential. “My main aim is to help local businesses improve their situation by applying the highest standards of turnaround”, he says.

Tom, who lives in Eynsford and is a qualified chartered accountant, has over 30 years’ experience in business including working locally as a Finance Director and Chief Operating Officer.

Tom’s expertise includes offering business advice and support, and working closely with management teams to identify what is causing the difficulties and underperformance in the first place. He helps develop strategies to address the situation – such as drawing up a realistic business plan; identifying innovative ways of generating cash and developing a 13-week rolling cash forecast. He is also experienced in helping businesses negotiate with banks, creditors and HMRC, and in giving a much needed morale boost to staff and managers.

According to Christine Elliott, Chief Executive and CEO of the Institute for Turnaround, “Tom Phillips’ accreditation with the Institute is great news for businesses in West Kent. There are now ten IFT-accredited, highly experienced turnaround professionals living and working in the region. Their support in bringing local businesses back from the brink is also vital to the wider UK economy, because of the region’s large skilled workforce; proximity to London and thriving finance and business services sectors. Ensuring the survival of West Kent’s businesses is crucial for returning the whole country to better economic health and prosperity, and IFT members are playing a vital role in this.”

This was posted in Bdaily's Members' News section by Institute for Turnaround .