Highest number of business bankruptcies in 13 years
In 2023, 3,037 companies went bankrupt, the highest number in 13 years. There are of course many reasons for this, but the extra high number is likely due to a combination of factors.
"The reason for the many bankruptcies is both a result of some tough years under Corona, including forced shutdowns, but also the following years, which have been characterized by high interest costs, rising commodity prices and high inflation. All these conditions have created a slowdown in Danish consumption and economy, which companies can feel, especially those who have struggled with a backlog from Corona," says Morten Holst Henriksen, who helps companies with business development, digitalization and marketing.
Konkurser har ofte store konsekvenser, ikke bare for virksomheden selv i form af tabte arbejdspladser, men også blandt virksomhedens kunder, leverandører og samarbejdspartnere, der ofte taber penge.
173,093 registered bad payers last year
In 2023, 173,093 Danes were registered with Experian - formerly known as RKI (Ribers Kredit Information), the highest number of registrations in three years.
There are several reasons for the rising number of registered bad payers, but one of the reasons is undoubtedly the general slowdown that Danish families have experienced during the last two years of high inflation.
Danish families' wallets have been under pressure, which has been felt when shopping in supermarkets and taking out loans.
Unfortunately, tight budgets often lead to certain bills not being paid - either because there was no money to pay them or because you had to prioritize among your creditors.
Avoid bad payers with Qatchr
2023 has been a truly challenging year for consumers and businesses alike - and it doesn't look like the trend will slow down in 2024.
That's why now might be the time when you as a business owner, bookkeeper or finance manager need to focus sharply on your accounts receivable, including:
✅ Kredittider
✅ Kreditforhold
✅ Kreditpolitikker
✅ Nedbringelse af udestående
✅ Rykker- og inkassoprocesser
✅ Kredittjek
All of these relationships come under pressure as society experiences rising bankruptcies and an increase in bad debtors.
Of course, we recommend that you keep an eye on these points on an ongoing basis - but especially in the times we find ourselves in now.
Det kan også være, at det er på tide at introducere noget nyt; kreditopslag, kredittjek og få en større indsigt i dine kunders økonomiske forhold.
Qatchr is a digital online service that allows you to get all relevant information about your customers - whether they are businesses or individuals.
Med Qatchr kan du blandt andet hente regnskaber, økonomiske nøgletal, se kreditoplysninger, få økonomiske anbefalinger og meget mere.
Ved at benytte Qatchr undgår du ikke dårlige betalere, men du kan træffe flere beslutninger på et langt mere oplyst grundlag, og måske endda undgå de virksomheder, der er på vej til konkurs – og undgå kunder, der allerede er registreret som dårlige betalere.
Is your customer a business with an ApS, A/S or similar legal form and is the company more than 1.5 years old? Then it will typically be possible to view the company's public accounts.
Public financial statements can be easily accessed online and can help provide insight into a customer's financial situation.
Remember that public accounts are a look back in time, so they don't always give a true picture of the company's current financial situation.
Many bad payers often choose two paths when it comes to paying your invoice; no response or a sea of explanations.
There are almost no limits to the excuses a bad payer will use to delay or avoid payment.
In other words, if a customer has excuses or doesn't respond after you've sent the invoice, you should pay attention.
Try Qatchr today - free for 14 days
Qatchr is developed and owned by one of the largest debt collection companies in the Nordics, Collectia, with over 150 years of experience in debt collection.
It is precisely this extensive experience that we have built Qatchr on. With Qatchr, you can access a wide range of information about your customers, including their status as known bad payers. By combining this information with the factors mentioned above, Qatchr gives you an even better basis for identifying bad payers - even before they become customers in your business.
