Only a small number of businesses have so far been denied, reduced or withdrawn loans by their banks. Therefore, according to researchers from the association on research on consumption (GfK), the feared credit problems have so far hardly emerged. In the course of a recent survey among 510 businesses it was revealed that a large majority of businesses has so far not suffered from the often invoked loan crisis.
In total, 94 % of businesses interviewed have not experienced any financing restrictions over the past three months. This applies to both major and small/medium-sized entities. However, the financial crisis has prompted many businesses to react and take certain measures. Thus, twenty percent of businesses postponed investment decisions which led to businesses demanding less loans than in the past.
It turned out that 46 % of all businesses in Germany have been affected by shrinking turnover over the past three months. One third of businesses even suffered drops in turnover by more than 10%. About one third of businesses expects turnover to fall even further over the next six months.
As a consequence, about 15 % of respondents said that they save on personnel: they do not take on new personal, use short-work, cut jobs or do not pay holiday or Christmas money. Major companies take saving measures more often than smaller businesses given that 34 percent of them took such measures which is twice the average of all businesses.
There is a first sign of the situation to improve. According to respondents, in future turnover will fall less strongly than over the past three months. However, major businesses generating a turnover of more than 50 million Euros do not see any improvement so far. About 25% of major businesses reported that turnover has fallen by more than 10% over the past three months. 23% of these businesses believe that the situation is not going to improve over the next six months.