This Hub helps SMEs understand the following:
1. What business turnaround and rescue entails.
2. What it could do for the Business.
3. How it will affect the ownership structure of the business.
4. How the process unfolds.
5. What negotiation tools are at their disposal.
6. How to access post commencement financing.
7. What legalities are involved, and a myriad of other issues.
Engaged Business Turnaround, IQbusiness, and Schindlers Attorneys are proud to be the founding members of COBRA (Covid Business Rescue Assistance). COBRA is a shared value ecosystem that provides support and assistance to South African businesses in distress. COBRA NPC, is a registered non-profit company incorporated in the Republic of South Africa.
COBRA consists of a consortium of enterprises that are united to use business as a force for good by assisting businesses to thrive in a difficult economy, to safeguard livelihoods, and ultimately to improve the social wellbeing of all South Africans. The coalition members are committed to pooling their collective knowledge, experience, and resources to enable distressed businesses to stand a better chance of surviving the economic crisis that has been exacerbated by the Covid-19 pandemic.
Our mission is threefold:
Provide a self-help knowledge portal where businesspeople can access relevant, factual, and useful information that might assist them in alleviating the distress within their business, thereby circumventing the need to enter into a compromise or business rescue process.
Provide direct assistance in the form of subject matter expertise to distressed businesses via business turnaround and recovery engagements, or via a business rescue process.
Co-ordinate with banks, government, and external stakeholders to improve the macroeconomic climate within which businesses operate and to increase robustness in the South African economy.