Go into the holiday season well prepared
Summer liquidity problems are a given every year, and this is certainly true this year too. Just think of rising prices, the tight labour market and the prevailing geopolitical uncertainty worldwide and the high number of bankruptcies, among others. Especially in the summer months, companies run into liquidity problems. Holiday pay and payroll taxes on these can make the cash shortage mount, partly due to non-paying customers.
Ten tips for effective dunning
Dunning firmly and correctly - that, in a nutshell, is what effectively dunning your non- or late-paying customer comes down to. If you take these tips to heart, chances are you will get it right. Are you still not getting a response after applying these tips? Then you are probably not the only duped person waiting for their money. Debt collection is then the next step.
Risk profile can change rapidly
Rik Broekman, Head of Commercial Atradius Credit Insurance Netherlands, is quite clear: many entrepreneurs will continue to be positive about the developments of their businesses in the second quarter of 2024. Despite continuing high costs, falling sales and the ever-increasing impact of geopolitical developments, most sectors in the Netherlands are still doing well. Nevertheless, several industries are also suffering from challenges.
How is the Dutch economy doing?
Reading the news, you sometimes get depressed about the many negative reports. Especially when it comes to the economy. Numerous doomsday scenarios pass by, but how are things really going?
Financing and the importance of a good adviser
In today's times, the average entrepreneur has enough on his or her mind. Aftermath of the corona era, the war in Ukraine resulting in sharply increased energy and raw material costs. Not to mention the uncertainty of what the impact on business will be of the new cabinet's plans (if we can even call it that). To this, we almost forget the labour market tightness and sharply increased personnel costs. And then you also have to make sure your business is or stays well-financed.
Manage your credit insurance policy easily with software
You prefer to work as efficiently and effectively as possible. Always have a good overview of your customers, your limits, your coverage and your claims. But how do you easily ensure that you are always up-to-date on your customers' creditworthiness and payment behaviour?
Tips & tricks credit insurance
With credit insurance, you will still get your money if your customers can no longer pay outstanding invoices. This protects your business against non-payment and prevents your own payment problems or continuity issues. But what can and may you do yourself under the policy's cover? Please note: the terms we describe may vary between policies and insurers
Labour market is a problem
Arthur Schellekens, Country Manager Netherlands at Coface, has been with the organisation that helps global entrepreneurs make credit decisions for 24 years. Some 100 professionals work at the credit insurer in the Netherlands, while worldwide there are thousands of employees operating from 100 countries. Despite its size, the French organisation has managed to create the same DNA everywhere. Customers notice in everything that the insurer is involved with them, that it really helps them. The working atmosphere is very pleasant and there is a high willingness to cooperate and celebrate successes. And that is exactly why Arthur has never left Coface.
Way forward in the market for guarantee facilities through insurers
These are uncertain times, so it is understandable that there is more demand for certainty. The number of bankruptcies has been rising for some time. The biggest hits were originally in the trade and construction industries, but it has now penetrated all sectors. It is crucial that companies keep a close eye on their financial position and take appropriate measures to avoid bankruptcy. To provide certainty to both buyers and manufacturers of investment goods, there is an important tool: the financial guarantee. Working capital is vital to keep your business running. Because a positive working capital means that your company has sufficient cash to meet its obligations and remain operational.
Avoid turbulence with project finance
How good! One of our relations has won the contract to carry out a project in New Zealand at a large maintenance company for large aircraft. The project has the scope of several million euros and the lead time is more than a year. Our client is an SME that does not have the financial capacity to fully pre-finance such a multi-million euro project. Although part of the contract price was paid in advance, this client had to provide a bank guarantee in return. This provided some security but did not provide the necessary liquidity. When you think of working capital financing, you quickly think of a current account credit, 'standing in the red', or factoring. We found a completely different solution for this client!