TLN expects liquidity problems for transport entrepreneurs. Because of long payment terms in the sector, entrepreneurs are now still getting money on work before the crisis. If that income stream dries up, the financial problems will become really visible.
This was stated by TLN president Elisabeth Post to BNR Nieuwsradio. In TLN's latest corona monitor, 10 per cent of entrepreneurs said they had liquidity problems. That percentage may be rising because the transport sector has relatively long payment terms. "That now rises from about 45 days to 90 days. That means they got paid for work they had done before that in the last six weeks."
Post expects liquidity problems to rise around this period. "But I also know of companies that stopped before they really got into trouble," he said.
Turnover drop 30 per cent
Some 70 per cent of entrepreneurs in logistics and transport saw turnover fall in recent weeks due to the corona crisis. Car transport, ornamental plant cultivation, the event industry and the hospitality sector were particularly affected. Turnover loss in the sector averaged 30 per cent. According to Post, that percentage says little because there are also strong outliers upwards, for instance in parcel services and in the food sector.
