Is there anybody out there ?

Corinne Reynders

At this point in the plot, the album's protagonist, Pink is attempting to reach anybody outside of his self-built wall. The repeated question "Is there anybody out there?" suggests that no response is heard.

Pink Floyd

• Our experiences with companies and people who went bankrupt

• Consequences of failure not acknowledged • Obstacles were never displayed • No services are provided for this target

group • My duty to expose this today

This presentation is about

Intermediate Step

Entrepreneurs at a crossroads

Tussenstap =Expert center for companies in difficulties

At different stages of the problem• Before Bankruptcy :

How to save the company? Business Emergency Treatment Legal interventions (chapter 11)

• During Bankruptcy : Rights FAQ

• After Bankruptcy Human level Legal level

1 2 543

6

Crisis

Prevention Recovery

2006 2007 2008 2009 2010 2011 2012 (extrap.)

0

2000

4000

6000

8000

10000

12000

7558 76138434

9466 956610138

10618.8

Prevalence of bancruptcy in Belgium (source : www.graydon.be)

2006 2007 2008 2009 2010 2011 2012 (extrap.)

0

1000

2000

3000

4000

5000

6000

34193880

4110

4816 4870 48975287.2

Prevalence of bankrupcy in Flanders (source : www.graydon.be)

number of

bankruptcies

Year

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011

Location of the

company

3.6944.021 4.168 4.329 4.154 3.893 3.992 4.273 4.983 4.918 4.908

Flemish Region

Brussels-Capital Region

1.2531.211 1.248 1.291 1.388 1.501 1.485 1.813 1.788 1.915 2.348

Walloon Region

2.1471.990 2.177 2.315 2.336 2.222 2.201 2.390 2.649 2.737 2.968

BELGIUM

7.094

7.222 7.593 7.935 7.878 7.616 7.678 8.476 9.420 9.570 10.22

4

”Success is standing up once more”.

Robert Anthony

orientation1

orientation 2

synthesis

SyntraVlaanderen

Entrepreneurship works

VDAB

Tussenstap

Intake

Orientation1

Orientation2

Synthesis

Financial situation

Arrange the debts

Aspirations for the future

History of the

bankruptcy

PDP

No access to finance

Job employee

Alternatives in finance

Business concept/ide

a

PAP

Arrangements with the

curator

Compose a dossier for financial access

Intake

Orientation 1

Orientation 2

Synthesis

Access to finance ; the red line in the

process

synthese On-derne-men

werkt OW

Syntra VL

VDAB (leeg) Totaal

Aantal 314 106 37 168 3 314

% 1 0.338 0.118 0.535 0.01 1

25

75

125

175

225

275

325 314

106

37

168

3

314

Outcome after orientation proces

Damaged credibility: identification of the entrepreneur with his business

Damaged credibility as manager: banks refuse to open current account, being

blacklisted haunts many entrepreneurs for many years Social stigma :

unfounded suspicion of fraud During bankruptcy:

receiver’s decisions affect property and income After bankruptcy:

start from scratch or even worse. Uncertainty about remaining / standing debts after bankruptcy.

Bottlenecks for access to credit

Problems mapped After bankruptcy some entrepreneurs get stuck

Poverty follows bankruptcy

Immobilization by bankruptcy procedure

Psychological processing crashes by lack of appropriate care

Lack of minimal banking service

Health problems neglected

After bancruptcy most self-employed get hopelessly stuck

Poverty follows bankruptcy

Unfinished bankruptcy causes

troubles

Unpredictability of terms and

outstanding debts

High need for free advice

Unreachability and immobility

Psychological grieving process crashes

Damaged self-image

Tendency to withdraw, fear of

government

Helplessness positioned at

curator and Justice

Difficult opening of bank account

Presumption of financial

incompetence

60% of the Flemish perceive failed as

fraudsters

Bankrupts are unprofitable customers

Health problems enhance social

exclusion

Long term stress undermines

health

Failed often lack health insurance

Small businesses higly depend on

few persons

1. No continuation of the reintegration project:• provide no help to find out which

is the next step in his/her carrier

2. Non (or poor) access to finance

3. Graydon : 3,5 till 9 years before they restart

4. No multiproblem approach is provided, although the indications are obvious

Is there any-bodyout there ?

THANK YOU FOR YOUR ATTENTION

CORINNE Reyndersprofessional coachproject coordinator