Credit insurer Allianz Trade expects no less than 52 percent more bankruptcies in 2023. Investigator of debt cases Robert Jan Blom even thinks this is a low estimate. “We cannot speak of a situation that inspires confidence”
After the corona crisis, the same prediction was made countless times: the number of bankruptcies in our country will increase sharply in the coming period. Allianz Trade is now also coming up with an expectation. This year, the number of bankruptcies is expected to increase by more than fifty percent.
‘In 2019 it already appeared that 400,000 self-employed persons are extremely vulnerable in the market’
Both business economics researcher of debt cases Robert Jan Blom and Jacco Vonhof, chairman of MKB Nederland, fear that the insurer could be right.
Blom even thinks the estimate is a bit low. All signals are red. Confidence in the economy is bad. There is high inflation and there are interest rate hikes. As a result, there is a loss of purchasing power. This is really not a confidence-inspiring situation.”
Repaying corona support
In addition, the corona support must be repaid by a large part of the entrepreneurs. “About 60,000 entrepreneurs have not yet repaid anything at all from the corona support they received,” says Vonhof. ‘For a number of them, the letter from the tax authorities will follow in May that they will collect immediately. If entrepreneurs are unable to pay, bankruptcy is imminent.
The problem is not entirely new, however, says Blom. ‘In 2019 it already turned out that 400,000 self-employed persons are extremely vulnerable in the market. Very little needs to be done to prevent bankruptcy.’
Blom doesn’t like to say it, ‘but in the end you can talk about a kind of restructuring of bad entrepreneurs compared to good entrepreneurs. And that’s not a nice message.’
