Almost every 3 Danish IT companies do not have the liquidity to continue for more than 2 months if the corona crisis continues.
Thus, the IT industry faces a gigantic problem in a very short time. Small businesses in particular are suffering.
In a new analysis from Dansk Erhverv more than half (51%) of Danish IT companies say that they are concerned about the liquidity of their business due to the corona crisis. In fact, 29% of IT companies are so depressed that they do not have the liquidity to continue for more than two months from today.
Figures that concern both the Danish Business and IT industry.
“When every third IT company already stands with one leg beyond the abyss, action must be taken quickly if we are to avoid bankruptcies and layoffs. If we let these companies go down and home, it will have enormous negative consequences for all of Denmark and the business community, ”says Betina Hagerup, Director of the Danish Business.
With over 4,000 companies, 90,000 jobs and a gross social value added of $ 120 billion. DKK per year, a threatening business death at so many IT companies will have a great social impact, and will eventually lead to layoffs, recession and fewer hot hands elsewhere in the community.
The small and start-up companies in particular are at risk
Although the government has drafted a large number of relief packages, the smallest number of these hit the small businesses that are facing acute liquidity problems.
The survey also reveals that it is especially the very small companies with 0-10 employees who have liquidity problems. Thus, as much as 60 per cent corresponds to this. of the companies that they are concerned about the liquidity of the company.
“Many start-ups and small innovative companies spend many years developing their products before real revenue comes. And they can't wait for lengthy application processes, deferred sales tax until September, or allow employees to not work. They need help here and now if they are to survive, ”says Natasha Friis Saxberg, CEO of the IT Industry.
This is why the IT industry and the Danish Business Association propose to establish entirely new loan opportunities that can help companies with cash burn quickly and on favorable terms.