general/economy

The financial news is full of stories of entrepreneurs struggling to pay off debts accumulated during the corona era. These may include rent debts at retailers who faced lockdowns, repayment obligations at the bank, but especially tax debts. The latter must be repaid in a maximum of 60 months from October 2022. Under normal circumstances, that seems a perfectly reasonable timeframe. Were it not for the fact that we were already in economic dire straits at that time. High energy prices, major problems in the supply chain of raw materials and resulting high prices. This also led to reduced demand in industries. After the Manufacturing Purchasing Managers Index (PMI) experienced a brief upturn between April and August 2021 with a peak of 63, it then fell precipitously to its low of 43 a year later. A score below 50 means an expected decline in manufacturing demand.

If you think about risks at an early stage, you are more likely to prevent them. You can set this up in different ways. For example, risk management is a continuous process, the initiative often lies with management and it is then applied throughout the organisation. Potential events that could have an impact are identified, risks are managed and thus fall within the risk acceptance level. It is thus a structured way to better manage risks. With risk accountability, the emphasis is on, as the name suggests, accountability. It is then more obvious that the audit department, finance department and controllers are the drivers of the process, with support from an external auditor.

While it was to be expected that the elections would bring quite a few changes, many had not thought that the PVV would become the largest party. Pieter Omzigt's newcomer NSC also gained a hefty number of seats. The old ruling parties were all punished considerably by voters. 

Time is running out, so we're falling head over heels. There are still some things you can do to take advantage of your credit insurance or financing at the last minute of 2023. So read the seven tips and get started! 

For many entrepreneurs, it is all hands on deck at the moment. After a turbulent corona period, accrued tax debts must be paid off, necessary vacancies are hard to fill because there is a shortage of good candidates, and then demand is also collapsing due to the major uncertainties in our part of the world. And if that doesn't fill your day, the government also expects you to make your business more sustainable. Where do you get the time and especially the money?

CEO of the IA Group Chanan Hertzberger is a valued cooperation partner of Xolv. The IA Group specialises in resolving and preventing trade disputes between buyers and sellers around the world. In this article, Chanan explains what and especially how the IA Group works, and he is happy to share some tips for entrepreneurs doing business abroad. 

When you do business internationally, there are certain risks you can hedge. Countries can be directly or indirectly involved in conflicts and this has huge geopolitical implications. Think of China, Iran, Lebanon, the US, Jordan, Saudi Arabia, the ongoing war between Ukraine and Russia and the serious conflict between Israel and Hamas in the Gaza Strip. We reflect on the personal suffering among the people and the many casualties.

Alongside the ongoing war between Ukraine and Russia has come a new serious conflict, the war between Israel and Hamas in the Gaza Strip. The most terrible thing about this war is the personal suffering among the civilian population and the many deaths and injuries it brings.

We have written before about the difficulties entrepreneurs face in obtaining financing for their businesses. It appears that over the last 10-15 years, it has become increasingly difficult to raise business finance through the usual channels. We are referring here to general banks. Of these, we no longer have many in the Netherlands. We are talking about ABN AMRO, ING and Rabobank, and maybe we can count Volksbank as well. The first three in particular, with a combined market share of over 80%, have increasingly withdrawn from the SME business finance market in recent decades. While the market grew, lending to SMEs declined by 16% over that period. The number of financings smaller than €250,000 actually declined by 40% over that period.

Even creditworthy international buyers, sometimes cannot make payments through no fault of their own. Just think of a situation in a country where war breaks out. We don't have to explain to you that, as a supplier, you run substantial risks due to unpaid invoices. And yes, you can insure against political instability in your buyer's country. But what exactly is insured?