Check customers' creditworthiness in 10 steps
Do you know who you are doing business with? You may now immediately think "yes, of course I know!", but we dare to doubt that. Sure, you have existing customers with whom you may have been doing business for years. With no hard feelings. They always pay on time and you trust it to stay that way. Those customers are what we wish for everyone!
But what if things go haywire? Or if you take on new customers? How do you find out if they are creditworthy? Whether risks need to be hedged? Prevention is always better than cure.
Additional cover for customers with a 0-limit or partial limit
Besides the Top-Up cover of traditional credit insurers, new entrants have entered the market in recent years with new products. Both existing and new insurers are looking for ways to serve their customers even better. This development in the credit insurance market is leading to more and more innovative tailor-made products. Which solutions are these? And what opportunities do they offer your organisation? We zoom in on the possibilities for Top-Up cover.
This is how the application process for a factoring contract goes
We are regularly asked what the application process for a factoring contract looks like. And how long it takes. Logical questions, which we are happy to answer in depth. Not a reader? No problem, because the process always starts with an introduction, where we go through your requirements and questions. We then also immediately check whether your company's activities are in principle suitable for financing via factoring. What do we ask for?
Delivered on time, but payment remains outstanding. What now?
It is incredibly annoying to have to go after your own money. Of course, you act like a good merchant and speak to the buyer several times about his negligence and the obligation to pay. Because you know: the longer payment is delayed, the greater the risk of damage. We notice a worsening of payment terms and an increase in collection cases. Not so much driven by a company's morality, but more by a shortage of liquidity.
How is your business surviving the mild recession?
The Netherlands has officially entered an economic recession. The first and second quarters of 2023 showed a decline compared to 2022, which is when a recession occurs. They are not dramatic declines: quarter one was 0.4% and quarter two was 0.3%. Not dramatic because the number of bankruptcies and the number of unemployed is still relatively low. This slight decline in economic activity may bring some balance back to the labour market.
Cheap expensive? Not always!
In both the public and private sectors, customers can ask for a guarantee or surety. Chances are you immediately think of your bank, which makes sense because until a few years ago, that was the institution to turn to. But times are changing, there are new guarantee providers on the market. And that is more than worth considering! Because of the costs, but there are more advantages.
It's all about expertise, good relationships and long-term cooperation
Wim de Bundel has been on board at Ecclesia since last year, the Commercial Director is responsible for marketing and sales. Wim: "We are convinced that everyone should be able to do their job with passion. That entrepreneurs and organisations should be in control. This is only possible if there is maximum insight into and grip on financial risks and opportunities. Because only then can you consciously and confidently do what you do best as an entrepreneur: realise ambitions and serve your customers."
SME State Bank. A good idea?
By: Fred Soers After the Dutch business sector emerged from the Corona crisis better than anyone had previously thought possible, serious problems now seem to be brewing. Larger companies, and multinationals in particular, seem to be escaping recession. Indeed, many large companies are taking advantage of the uncertain business cycle by [...]
Well prepared for holidays so you can really unwind
As an entrepreneur, you work hard all year and now is the time for relaxation. It is not easy to let go of everything, but when you do, the battery is fully recharged and you can get back to work with full energy. Especially during the holiday period, many companies run into liquidity problems. [...]
Repaying Corona debt difficult? Five Tips.
Companies that deferred tax liabilities during the Corona period will have to repay in monthly instalments since October 2022. This also applies to overpayment of NOW grants. The standard term for this is 60 months. There are many companies struggling to meet this obligation. Perhaps under normal circumstances they would have succeeded, but [...]