Customers in 72 countries
Kersten BV is a Dutch wholesaler that sells trendy home accessories to shops in more than 72 countries. From beautiful furniture to stylish trays. And from bath mats to etagères. Diederik Kersten is co-owner with his brother; they took over the company from their parents in 1995. Who in turn took it over from Diederik's grandfather. A real family business! Whether the wholesale business still looks the same as in grandfather's time? No, of course not. The world changes rapidly and Kersten BV responds to this in an agile and flexible manner.
Corona debt hangs like a millstone around many entrepreneurs' necks
Figures from the UWV show that more than €1 billion of the €3.9 billion inappropriately received NOW funds remain to be repaid. There are about 64,000 Dutch entrepreneurs who have not repaid anything by now. While they had to start repaying their tax debt accrued in corona time from 1 October 2022. The tax authorities have started their reminders to reclaim wrongfully received NOW schemes.
Credit insurance without cover? How then?
Finding the right balance between accepting new customers and mitigating financial risks is a challenge. New clients are obviously essential for the growth of your business. But how do you know if a company is reliable enough to do business with? And how do your receivables management and sales departments work together optimally? Accepting and monitoring your customers is an essential part of your operations because:
Geopolitically turbulent period
Doing business in many countries around the world is becoming increasingly complex. Do you have to take sanctions into account, are there export-restricting measures, what is the state of political stability, is the economy going well or badly, how is the local currency developing? All questions you can answer if you take a good look at the local situation of the country or countries you are doing business with. Buyers may be creditworthy, but if payments can no longer be made due to a shortage of foreign currency in the buyer's country, for example, as an entrepreneur you still run considerable risks of unpaid invoices. Not to mention a war breaking out, just think of the situation in Ukraine.
Should I do that, such credit insurance?
There comes a point when, as a business owner, you know you 'have to' do something with insuring credit. At least if you sell to other businesses and deliver on credit. You just want to make sure that late payments (or worse, non-payments) affect the health of your business. Because that's something to lie awake at night worrying about. After all, you just have to pay your suppliers too. And so much more...
Will it come to this?
In spring 2020, there was some uproar in corporate Netherlands due to the bill to lift the so-called pledge ban. As early as 2016, the Dutch Banking Association advocated for this change in the law. It did so together with FAAN, the association of which the larger Dutch factoring companies are members. In late 2019, the government finally put the topic on the agenda, followed by a bill in 2020. Only this proposal remained with the Lower House as the world came to a standstill due to the Covid-19 pandemic. Recently, there has been movement on the subject again. On 28 November last year, it was last discussed in the House of Representatives, after which it is planned to have a general debate on it. As far as we can tell now, it is scheduled for May 2023.
Growing in difficult times by swimming against the current
Enjoying the good things in life is easier in quality and comfortable clothes. This immediately explains the name of the Dstrezzed brand: a brand built on the belief that life is an adventure we should all make the most of. Bold, rebellious and authentic. Eric Aarden is the CEO of Dstrezzed, he is an entrepreneur who lives the brand value. A tad rebellious, against the grain, close to himself and definitely authentic. "I want to establish an iconic brand, a brand that will be around forever."
6 steps: what to do if a customer does not pay
Very annoying, customers who don't pay or don't pay on time. Cash flow comes under pressure and the likelihood of writing off the receivable only increases as time passes. What steps can you take?
Which industries are at risk?
After years of growth, there was talk of a downturn before corona broke out. When COVID-19 broke out, everyone expected the worst, but the economy remained intact due to government support measures. In fact, the number of bankruptcies was at its lowest level ever. Even now, the number of bankruptcies is still low, although the figures have been increasing since the end of 2022 and there seems to be an acceleration in 2023.
No scheming
A good partnership is all about trust. And about good services and service at the right prices, of course. But above all it is about trust. If you engage a broker, you want to be sure that no deals are being done behind your back. To put it bluntly. And we understand that like no other. As entrepreneurs, we too are always looking for parties we can trust. Who are transparent, who let us do business freely. That is precisely why we want to be very transparent about our working methods. And we cannot emphasise that enough.