This note addresses the statutory restructuring process (debtor-in-possession regime) for small businesses under Part 5.3B of the Corporations Act 2001 (Cth) (and related subordinate legislation). It discusses when the process may be invoked (and the relevant eligibility criteria), how the process is commenced and documentation required to be prepared, the requirements for proposing and voting on a restructuring plan, the effect of restructuring (and the restructuring plan) on the company and key stakeholders, and how the plan may be brought to an end. It also addresses the temporary relief that was available for certain companies that wished to enter into the process after 1 January 2021 but were unable to do so before 31 March 2021.