Welcome to LABSgroup
Where are our entrepreneurs?
With the ripple effect of global economic instability and pressure, increased numbers of small to medium size business owners have experienced the brutal reality of business and financial loss. Liquidation, Administration and Bankruptcy are taking a toll on individuals, families, communities and economies.
LABSgroup has been collaborating with leading international researchers and educational institutions, to translate the most current thinking in the area of venture failure, into Australia's first specialised Entrepreneurs Recovery Program. Since 2012, we have been providing individuals with a structured support and education program to accelerate their financial, psychological and social recovery.
During the 2012-2013 financial period, the proportion of debtors with business related bankrupties or debt agreements reached record numbers. The June quarter for 2013 recorded 1545 business related personal insolvency's across Australia, this equated to nearly 120 businesses failing each week.
In 2009 the LABSgroup founders discovered that there was no entrepreneurial support or recovery framework for people who had experienced venture failure, either in Australia or other advanced nations.
As business failure experiences increased following the 2009 GFC, it became clear that a user specific program was required to engage entrepreneurs in a professional user-specific environment, with the goal of building personal resilience, confidence, knowledge, and active reemergence into supportive social networks and new-venture activities.
- 2010 January: LABSgroup formed
- 2010 June: Research and development of the restartSMART program commences.
- 2012 March: Australias First Entrepreneurs Accelerated Recovery Program released - restartSMART
- 2012 May: First restartSMART program pilot successfully completed.
- 2013 June: Individual and group programs facilitated
- 2014 June: Updated version of the restartSMART program prepared for broader access
- 2015 January: LABSgroup Edge business nights launch - regular social evenings for recovering entrepreneurs
Our success stories
TESTIMONIAL of C&C (2015)
"We wish to record our appreciation for the opportunity to be part of the recent restartSMART program. The structured focus on self-assessment and evaluation of our business loss proved to be psychologically paramount to moving forward.
Towards the completion of an interesting program, we were able to compartmentalise our thinking with a greater understanding of the real and important issues. In turn, over a few weeks, this has led to our current position. Life is good again.
We have regained a positive and confident outlook for the future. We are again assembling business opportunities with a much sharpened sense of professionalism.
The periodical networking with others of similar experiences was also a clever key in the support and recovery process. We were not alone.
The LABgroup facilitators receive our particular commendation for their professional, flexible and compassionate administration of an excellent service. I wish that every business entrepreneur in the same situation as ours could be offered the same support, to achieve the same outcome."
LABSgroup is for..
Sole traders, Business owners, Company Directors and Investors who would benefit from unbiased professional advise and support because:
- your business/investment is close to or has ceased trading and may need to or has gone into liquidation or...
- your business/investment failure has caused you to go into personal bankruptcy or...
- your business/investment failed some time ago but you still struggle with the emotional and financial loss.