“Sustain Your Business” conference highlights corporate restructuring and reorganization
Participants at the “Sustain Your Business” conference in Doha recently.
Doha: Representatives from various companies and sectors in Qatar gathered for the “Sustain Your Business” conference jointly organized by Expense Reduction Analysts (ERA) Qatar, FishEye Consulting and Al Sulaiti Law Firm, with the active participation of Investment Promotion Agency (IPA)) Qatar.
The conference took place following the announcement in July that the three companies were working together to provide restructuring and corporate reorganization services in Qatar for local companies.
The conference highlighted how businesses are facing increasing uncertainty caused by global trends such as economic and environmental changes, changing customer behaviors and increasing digitalization. One of these challenges, especially for manufacturing companies, is the post-blockade environment, where competition has increased dramatically. Another local challenge is the future after the World Cup, where sectors such as retail and hospitality will need to find viable ways to harness the additional capacity created for the event. All this in light of a gradual generational change in family businesses and conglomerates where a third generation takes the reins of the business and looks for ways to optimize it.
This uncertainty creates specific challenges for companies based in Qatar: they must start to review their strategy and create a strong but ambitious vision for the future; and they need to streamline their business portfolio and focus on profitable and growing businesses. As they launch their efforts to make their operations more sustainable, companies will need to restructure and reorganize.
The services provided jointly by PIVOT – ERA (financial and operational restructuring), FishEye Consulting (strategy and organizational restructuring) and Al Sulaiti Law Firm (legal restructuring) aim to cover the entire range of services that companies need to support their restructuring and reorganization. .
Mubarak Al Sulaiti, President and Founder of Al Sulaiti Law Firm opened the conference and covered the legal aspects of the restructuring. Hamad Rashid Al Naimi, Director of Investor Relations at the Qatar Investment Promotion Agency, delivered the opening keynote of the conference and presented the activities of IPA Qatar and how it supports the activities business in Qatar and the attraction of new investment in the country. .
Mathieu Faupin, senior legal consultant and vice president for international affairs at law firm Al Sulaiti, explained how, although unlike other GCC countries, Qatar does not have specific bankruptcy laws , the law provides a framework for the restructuring and reorganization of enterprises through voluntary arrangements. , Mergers & Acquisitions and Spin-offs.
Jean-Marc Riegel, co-founder and managing director of PIVOT, a QFCA accredited company in business consulting services offering cost optimization with ERA, the leading international cost reduction experts, urged the public to “think like a new entrant ”. In his presentation, he discussed how to embrace a startup mindset and rethink the business from scratch while learning from the wealth of experience that companies have accumulated over the years can provide them. a unique tool to optimize their operations. He explained how ERA, with its international network of 700 consultants and experts in 11 industry sectors and more than 40 countries, provides a unique service to help companies optimize their direct and indirect costs as well as their financial costs.
Xavier Jopart, Founder and Managing Director of FishEye Consulting, a Brussels-based management consulting firm that operates across Europe and the Middle East, shared examples of other famous companies that had themselves suffered a restructuring exercise in the past and highlighted the five levers that companies can use to restructure, including strategic, legal, financial, operational and organizational restructuring. Jopart also highlighted four good practices in restructuring: focusing on cash flow, involving the right people, building momentum and regularly questioning plans.
Yousuf Al Aali, president and co-founder of Pivot closed the conference by stressing the sense of urgency for companies to think about their future and to embark on their restructuring and reorganization process.