The Gathering Place Medical Aboriginal Corporation
Lead manager / corporate advisor for the successful reconstruction and recovery of this Aboriginal social enterprise.
SBG Advisory was appointed to undertake a business process improvement task that led to a financial forensic analysis of the business and development and implementation of a time critical reconstruction process and develop a plan for growth through recovery.
We managed the transition from a company incorporated under the Corporations Act to a company incorporated under the ATSI Corporations Act 2006 that brought the business into compliance with government funding requirements.
We engineered a debt reduction and reconstruction process that was successfully completed with the support of the Australian Government and Westpac Bank.
Westpac Bank collaborated with SBG Advisory to provide a culturally appropriate and practical way of supporting this Aboriginal business. Westpac articulates its role in helping to ‘close the gap’ through its Reconciliation Action Plan 2015-17. http://www.westpac.com.au/about-westpac/sustainability-and-community/our-community/community-focus-areas/indigenous/
We developed a 5-year business plan that gives certainty to Westpac as the preferred banker and indicates the business is financially viable into the long term. The business continues to trade successfully.