Many SMEs in South Africa are operating on the edge, facing persistent cash flow challenges, mounting debts, and uncertain futures. For Business Accountants in Practice, this presents a critical opportunity to shift from reactive compliance work to proactive turnaround advisory. By identifying early warning signs, stabilising cash flow, diagnosing root problems, and implementing practical recovery plans, accountants can not only help save their clients' businesses but also establish a valuable new revenue stream within their own practices. This article outlines a clear, structured approach to delivering turnaround services that are both effective and billable.

Many businesses wait too long before taking action, slipping from distress into collapse while their advisors focus on compliance rather than strategy. Business rescue offers a structured legal process that can protect jobs, preserve value, and improve returns to creditors—if implemented early. Accountants play a critical role throughout, from identifying distress and compiling updated financials to supporting the development and implementation of the rescue plan. This is not theoretical knowledge; it’s practical, applied work that positions accountants as strategic partners in business continuity.