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 [...]
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: