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Vivek Joshi
Director & CEO @ Exc... • 23d
A declaration of NPA doesn't have to be the end. It's a critical turning point. Businesses can go from non-performing to high-performing with a strategic approach and a clear path to new funding. Here's how: * Confront the Core Issues: First, honestly assess and address the root causes of the financial distress. A clear understanding is the foundation of any credible turnaround plan. * Develop a Strong Restructuring Plan: Outline a realistic strategy for operational efficiency, cost reduction, and revenue generation. This plan proves your business is viable and ready for a comeback. * Explore Alternative Funding: While traditional banks may be hesitant, don't give up. Look into private equity firms, venture capitalists specializing in distressed assets, or government-backed schemes. These sources are often more flexible and willing to invest in a solid recovery plan. An NPA status is a powerful motivator for change. With a strong plan &a proactive approach, funding could be secured.
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