Unfortunately this week, for a second time this year, a lot of entrepreneurs will be confronted with a temporary closure of their business or with necessary amendments of their activities due to the measures taken by the Dutch government related to the large size of the Covid-19 virus. These measures should result in a decrease of infections in the Netherlands. It is unclear if these measures will have the expected result after the proposed four weeks. Based on the first “intelligent” lockdown of March this year, the expectation is that these measures will be extended for even a longer period. A lot of entrepreneurs will be confronted with no or less turnover for a undetermined period of time.
The government announced that these entrepreneurs will be financially supported, again. However, in practice, this support does not 100% compensate the losses that will occur and is just a sticking plaster. The tax authorities, banks, suppliers and lessors are able to give the entrepreneur an extension of payment or will provide some sort of compensation. However, the debts remain to exist and will only increase once there is no income at all. In an “after corona’ era, these debts should still be repaid and the question is whether the entrepreneur is able to do so. It is expected that there will be a storm of bankruptcies coming.
Are you such an entrepreneur, would you like to start your entrepreneurship in these difficult times, or would you like to know more about the possibilities that could apply to your situation? Are you facing difficulties and would you like to have a better view on your financial situation, in a business way, a private way or both? If so, I am open to exchange thoughts with you, without any obligations at that point. Please feel free to contact me! Please find my contact details below.