Business Turnaround

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What is Business Turnaround?

When a company experiences a lower-than-expected profit or increased expenses, it can be detrimental to the business as a whole – and frequently results in a significant loss. In such cases, it can be incredibly hard for a company to pull themselves out of this situation. Business Turnaround Accounting (also known as Turnaround Management) is a way to turn a failing business into a successful one again. Using methods such as management review and SWOT analysis, it’s easy to highlight exactly where the problems within the business lie. It presents you with a well-structured plan to bring your company out of solvency, and increase your profits immensely.

Why Use Nordens For Your Business Turnaround?

While it’s not uncommon for businesses to face dwindling profits at some stage during their time trading, it is a harrowing thing to witness. Here at Nordens, we view extreme profit loss or mis-managed accounts simply as a loss of direction. One which motivates us, even more, to turn your struggling company back into the profit-making machine it once was. At Nordens, we’ll always go above and beyond the line of duty to ensure companies like yours can break out of their financial slump both quickly and efficiently. We’ll fully invest in the turnaround of your company, using our expertise to assist you in small, accessible steps. Our industry experts have spent decades working with companies that, just like yours, were struggling with profit loss. This has given us an assortment of industry tips, tricks and know-how to get you back on your feet and soaring for success.

Here at Nordens, we understand that every company’s circumstances are different and therefore requires a personalised plan. We won’t waste time completing complicated trial-and-error tasks on your company – you are not our guinea pigs. Turning your business back into a profit-making machine requires effort and dedication so you can’t afford to work with anyone who won’t invest 100% in the project – we understand. At Nordens, we’ll only ever provide you with team members that commit completely to the job at hand. We won’t send just any old employee either – every member of the Nordens Business team is exceedingly well-trained, thoroughly experienced in Business affairs and highly motivated to assist. Your success is our success – and we know that ultimately, success is a sum of its parts, and you can trust us to deliver every time!

Our Expert Business Turnaround Service

Nordens accredited service is designed around you, supporting your business when it needs it most.
Our recognised ACCA accounting team go above and beyond to ensure every company we work with it brought back to its full prime.

Assess Your Current Financial Situation

Conduct SWOT Analysis On Your Company

Identify Failures In Your Current Methods

Provide You With A Plan To Turn Your Company Around

Introduce You To Our Expert ACCA Accounting Advisors

Provide You With A Dedicated Account Manager

Frequently Asked Questions

Here at Nordens, we understand that Business Turnaround Accounting can seem overwhelming. In fact, we receive questions every single day regarding the matter. Here, we answer some of the most common ones.

Business Turnaround Accounting is the method of turning a failing company, due to profit loss for example, back into a successful one. Methods such as management reviews and SWOT analysis are used to identify any issues within your company, both glaringly obvious and hidden ones. These reports are then analysed and used to put together a solid, strategic plan to drag your businesses out of the gutter and start increasing your profits from the get-go.

If your business is struggling, it will stay struggling until you fix key issues – whether you start making a profit again or not. Though it is possible to drag yourself out of the dirt on your own, you leave yourself open to making the same mistakes and end up falling once again. Business Turnaround Accounting identifies all the problems that affect your company, both big and small, and provides you with a plan to ensure you never make them again.

Though it’s usually fairly obvious a company is failing, that’s not always the case. Despite a decline in profitability, there a few other reasons that signify it’s time for you to reach out to us. If your market share is decreasing, you show a heavy reliance on debt or you’re failing to invest your profits back into your company – it’s time to get help!

You cannot put together a short, five-minute plan if you want to ensure long term success for your company, it requires time and thorough planning. Once the problems within your business are diagnosed, a Business turnaround account manager will then create a step-by-step plan to implement into your usual business strategy. Though it’s a lengthy document, it should be easy to understand after proper communication – and available to use straight away!

The implementation of a Business turnaround plan also requires a frequent review process. Not only does this show whether or not the plan was successful, but it’s also a sure-fire way to spot any problems in it that do require extra attention, so you can customize the existing plan further. This ensures continuous improvement for your business and prevents you from facing another loss.

Beyond Accountancy

At Nordens, we're more than just accountants - we're business experts who can help you achieve your biggest goals.

Nordens Strategic

Our specialist strategic division at Nordens boasts some of the leading entrepreneurial business minds in the country. We cater towards delivering consistent success stories, whilst helping businesses achieve above and beyond their initial goals.

Through highly-tailored guidance, coaching and advice, Nordens Strategic are able to define exactly how your business can reach new levels of success.

Regardless of how you define ‘success’ for your business, our strategic service is guaranteed to bring about real and lasting change. By partnering with some of the UK’s top business coaches, we’ll steer you along the path to a greater future.

Accounting 2 You

Every business, no matter how big or small, needs to make the right decisions, and how to best manage your accounts can put huge question marks over your business. Accounting2You is here to take that pressure off and provide you with all the answers you need.

Our bookkeeping branch offers a fully inclusive, comprehensive service that you can trust. Since 2005, our specialist bookkeepers have been successfully managing the accounting of both individuals and small businesses.

With experts in payroll analysis, credit control and financial recording, Accounting2You will lead your business efficiently, and with real purpose, towards a prosperous future.

Voted as EXCELLENT - 9.9 out of 10 based on 167 reviews

Chris Dyer

Director - Metro Bank

Nordens are always very easy to deal with and extremely professional and efficient. I would have no hesitation in recommending them to my clients for their accountancy needs, no matter how complex they may be.

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Jamie Brown

Co-Founder - Chicmi Limited

Very good to work with - the team go above and beyond to make the accounts easy and efficient. They're all super friendly and a joy to work with.

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Simon Rose

Director - Rose Opticians

I have been using Nordens Chartered Accountants for 5 years and very happy with the service provided. All members of the team are very knowledgeable and have a wealth of experience which has proved very beneficial to my organisation

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Rebecca Bossick

Founder & Director - Physio LDN

Very easy to contact and put me in touch with the right person whenever I need to ask any questions. Extremely knowledgeable and can help me manage my various businesses whenever I need.

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James Aconley

Principal - Pauline Quirke Academy

Great accountants, always available to offer advice. The team have transformed my business.

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Christopher Wilce

Founder - Dataphone

Having worked with Nordens over the last 5 years, not only to look after my annual accounts but they have also provided outstanding professional advice. They have guided me through a Company share buyback with clear and objective advice. We have also been using Nordens strategic services for a couple of years, which has helped bring about significant improvements that exceeded my expectations. With experience of working with several local accountants over my 29 years in business, I’m very pleased with the service I have received from Nordens.

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Dave Hodges

Director - Linekers

Trusted our business with Nordens for over 10 years now and watched the company grow into the successful innovative business it has become today. Deservedly so. Every aspect of financial advice we need is always given promptly and with a smile. We have total confidence in all aspects of advice Nordens give. If you are looking for accountants, its a no brainer!

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Tony Charles

Founder - Foundation Sports Limited

A fantastic, modern, vibrant firm that care about the clients and their staff in abundance. It is rare to find an Accountancy firm with such vibrance and focus and relationships. It is no wonder they win award after award in their field.

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Peter Horlock

Managing Director - Prime Time Boilers

I have been with Nordens for many years now and they are a great accountants.

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Simon Cushing

Founder - Vivid Finishes

We have used Nordens for the last 5 years and have had a great service throughout. The guys are very passionate about what they do and have played a part in the growth of our company, highly recommended.

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Andrew Martin

Managing Director - AMD Interior Architecture

Great Service at Nordens from a friendly very approachable team Particularly Kirsty Willis and Joe Sword who have been helping us since we started the business in 2016.

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James Robinson

Director - Forma London

Nordens provide a first class service. We moved to Nordens last year and have been impressed with the level of service provided. Keep up the good work!

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  Why I Founded Nordens
Accounting 2 You

In November 2002, having sold our other business interests off earlier in the year, I decided to set up Nordens Chartered Accountants. The easy part was knowing how to do it, as I had established and built a smaller practice a few years earlier. The difficult part, for me, was not following the traditional accountancy path. Having run businesses, both successfully and unsuccessfully, I wanted to help business owners resolve their short term problems and work with them to achieve their longer term goals. Business has always been my interest and I love that I can help business owners achieve what seems like the impossible every single working day.

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Mark Norden

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Our limited company accountants have a range of qualifications from The Institute Of Chartered Accountants (ICAEW) to the Association of Chartered Certified Accountants (ACCA). We worry about the bye-laws, regulations and ethical guidelines of the ACCA so you don’t have to! That makes us an ACCA-accredited employer as well as a Professional Passport-accredited one!