A few years ago business became really tight. We were under constant pressure and could really feel the heat building as cashflow became tighter with rising fuel prices and labour costs.
Progression Group came straight to our side for assistance. They immediately questioned the way we operated and confirmed wholesale changes were required to our pricing and overhead structure if we were going to stay in business.
We now meet with Progression Group every 2 months alternating between their offices and our depot. We have a structured board with regular financial reporting and professionally prepared minutes with follow up actions by various attendees.
Our business has gone from strength to strength and we simply could not have done this without the professional guidance of Progression Group.
Region Peak Transport Pty Ltd
An opportunity presented for me to buy into a business. Whilst I knew the industry, I didn't know where to start in terms of determining what the business was worth and how I could protect myself and my family.
I was referred to Progression Group and from our initial consultation I felt comfortable that I was in good hands. The extensive due diligence program that Progression Group followed highlighted a number of issues that were required to be addressed prior to me investing.
Furthermore, they were instrumental in negotiating the final price that was agreed upon and worked closely with our lawyers in tying up all loose ends.
Healthcare Lifting Specialists Pty Ltd
Our business was expanding rapidly. We grew to 50 staff, had plenty of work with good margins but our internal accountant could not explain why cash flow was forever tight.
Progression Group were becoming concerned with the lack of regular management reports and the delay in obtaining information when they made requests with our bookkeeper.
After 6 months of frustration, Nick flew to Cairns to get to the root of the problem.
Within 12 hours he summoned an urgent Directors Meeting and tabled the fact that he believed our internal accountant was siphoning money from the company. We just couldn't believe it. This guy would give his left arm for the business. He worked long hours and was (what we believed at the time) a top bloke. We trusted him and "dropped our guard", relaxing some of the internal controls that Progression Group had previously implemented.
We asked the internal accountant to stay home for the morning and Progression Group went to work. It took less than half a day to find the "smoking gun". After months of hard work reconstructing data, it was established that this so-called loyal employee had embezzled more than $350,000 over a 12 month period using a range of elaborate schemes.
He is currently serving 2 years in jail.
Thank you Progression Group for caring, assisting in obtaining some restitution and saving our business. We now have the tightest internal control mechanisms of any business!
Eagle & Stork Plumbing Pty Ltd
Progression Group acted for my business from when it was a small outlet in Coburg turning over $60,000 through to when we sold the business 10 years on, turning over $12m from a large commercial premise based in Brunswick.
A Public Company made an approach to take-over my business. I left all the negotiations to Progression Group. The result was fantastic and Progression Group structured the deal in such a fashion that we were able to access the Small Business Capital Gains Tax Concessions.
Imagine that – selling your business for a multimillion dollar profit and not having to pay one cent in tax.
Thanks Progression Group for all your guidance over the years.
CDS Gourmet Foods
Progression Group have acted for Barry Plant (Mitchell Shire) since 1994. During this time, they have assisted in the smooth transition of three retiring Partners.
Progression Group insisted that a Partnership Agreement be prepared early on in the piece and this has paved the way for seamless negotiations. Terms and Conditions regarding valuation methodologies, payment terms, restraint clauses etc. have ensured that relationships with previous Directors remain strong. Progression Group still act for the original founding Partner.
As sole Director, I continue to meet with Progression Group on a quarterly basis to review our business performance. Establishing budgets and constantly monitoring actual results guarantees business success.
SBV Pty Ltd trading as
Barry Plant (Mitchell Shire)
Progression Group has helped us through a very big year and we cannot thank you enough, your tireless work and invaluable expertise was such a big part of making it all possible.
Your professionalism, common sense and sheer decency is always greatly appreciated and we look forward to more exciting years working together.
The Meddings Family
Bintani Australia Pty Ltd