We come from a disruptive period when everything was different from what we were used to. Thanks to government support, the economy stayed afloat and bankruptcies were limited. Meanwhile, much is 'back to normal'. Since the middle of last year, there have been more bankruptcies and credit insurers are therefore also seeing an increase in the number of claims. We are more or less at pre-corona levels, noting that differences between industries are large. Partly prompted by high inflation, consumers are adjusting their spending patterns, so retail, among others, is still having a very difficult time. Changing laws and regulations are also causing difficulties in the solar panel sector, for example. Construction is another example of a sector facing challenges; with less remodelling and less property development, opportunities are not there for the taking. In general, costs are high, think rising wages and expensive materials. Those costs are not always easy to pass on to the end customer. As a result, sales drop. But the Netherlands is still doing very well compared to our neighbouring countries.
Dark clouds
The economic situation is fairly stable at the moment, but clouds also loom on the horizon. Companies are vulnerable, the risk profile of debtors can change very quickly. You only have to think about what is currently going on in the world to know that there are many risks. Entrepreneurs need to be aware of those risks, but certainly also of the opportunities. By making informed decisions and insuring risks, you maintain the stability and strength to continue doing business well.
But there is also hope
Dutch entrepreneurs are incredibly good at adapting to circumstances, turning challenges into opportunities. Atradius is happy to help find those opportunities and create solutions. We understand the risks on the world stage, know what is on the minds of entrepreneurs and have a genuine interest in what is going on in their field. Therein lies our strength, but also that of Xolv. They go for content, the relationship and are always looking for solutions based on their expertise. That way of working is very close to Atradius, we are both very good at what we do!
