Interview with Grahame Ward, Director of Mackay Goodwin

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On this week’s episode, I speak with Grahame Ward, Director of Mackay Goodwin. Grahame is a registered liquidator, administrator and receiver based in Sydney, and has over 20 years of experience in assisting with business turnarounds, restructuring and administration.
In this interview, we talk about:

  • Dispelling myths that liquidators are the grim reapers of business
  • His personal experiences as an investor
  • His advice to businesses experience financial stress during this market downturn
  • How government subsidies are potentially causing by-product issues and more specifically, zombie businesses
  • How business owners can take a more preventative approach and maximise the survivability of their business

I think there’s a lot that all business owners can take from this episode from an experienced advisor such as Grahame. Regardless of whether you and your business are in financial distress, Grahame shares the importance of seeking prevention as a way to mitigate risks in your business.

Connect with Grahame:

Show Notes:

00:00 – Intro

02:52 – Are Liquidators like the Grim Reaper for Businesses?

05:58 – Grahame’s views on creating wealth

07:48 – Grahame’s investor journey

08:57 – Dealing with a financial loss

09:54 – Stewardship – Advice for struggling businesses

11:55 – Recent changes to insolvency and restructuring

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Q: Are you like the grim reaper for business? The one who comes in and represents death for businesses. How would you best describe what you do as a liquidator and administrator?

  • I’d like to think I’m more like a medic when it comes to businesses and these corporate businesses are patients
  • Rather than immediately pronouncing these businesses dead, I look at ways in which we can help businesses recover first, and that’s what I offer in an advisory role
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