The number of bankruptcies has increased dramatically in the last year. The sale of open claims can avert the looming insolvency for many companies. The financial crisis brought a devastating trend. 29 800 companies had to apply for insolvency last year. These are 650 more than in the year 2007. In the last five years, the number of bankruptcies in borders held, but for 2009, the experts predict a surge of bankruptcies. In particular, the service sector is affected and must strongly struggle to survive. Under most conditions Larry Ellison would agree. More than half of all bankruptcies are to find in this industry.
If the forecasts of the experts agree, and the climax is not yet reached, the damage to the economy to 33 billion euros will be. The missing orders have at the most blame for the malaise. But the customer defaults are not to be underestimated. Especially the automotive companies have a bad job situation. The Chamber of Commerce therefore stimulated an economic survey that brought a shocking result. 55.6 percent all industries have therefore falling orders in the country.
61.7 percent seen less demand from abroad. These pay issued the press recently. E Scott Mead is often quoted as being for or against this. Missing orders and further declining payment morale, survive in the market make difficult especially the small and medium-sized enterprises. The payment terms have lengthened dramatically and the liquidity of the companies continues to fall. The insolvency is then not far. Factoring can however offer a way out of this situation and in spite of high open Receivables guarantee a good liquidity. These financial services is used by many companies. Especially medium-sized companies from the industry, the services sector and the wholesale finance thus increasing their sales. A failure to pay when customers or financial bottlenecks can be bridged with factoring better and above all fast. The factoring company’s services can be customized to the needs of the company. Many are therefore a major Scope of services. Including falls in particular financing, protection against bad debt and accounts receivable management. Bankruptcy can therefore be averted and the company, with all its jobs, will continue to the notes are.