You sell on open account without Trade Credit Insurance? Time to think again….

With the present economic turmoil caused by the Corona Virus and fall in commodity prices many companies, also large and reputable ones, might come into serious financial difficulties without giving warning signs and within a short time frame. Airlines, Hotels, Retailers and the Entertainment Industry are only some examples which are obvious for everybody – many other companies in other industries might not be on everybody’s radar screen yet. One mitigation strategy to avoid bad debt but still keeping competitive by selling on open account is to have a Trade Credit Insurance in place. What is a trade credit insurance? A Trade Credit Insurance protects your business from bad debts as it insures your accounts receivable and protects your business from unpaid invoices caused by…

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Business interruption by the Coronavirus – various insurances you might have already do cover potential losses

PT PRIME Consultancy is offering a general risk assessment check for your company and the potential impact of identified risks to your Financials and Liquidity. We also work together with insurance experts which can identify gaps in your insurance coverage as part of the risk identification process. If factories or parts of the production line or offices have to be closed, suppliers cannot deliver or buyers cancel orders it can have a devastating effect on the companies Financials and liquidity situation. Please contact us for risk assessment inquiries: info@prime-consultancy.com. The following brief overview gives an idea which insurances might give you some protection - which you might have already: 1. Business Interruption & Contingent Business Interruption Coverage 2. Commercial General Liability, Directors & Officers, and…

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Omnibus Law for improving Investment Climate

Dear Readers, PRIME Consultancy would like to give you regularly updates about the so-called omnibus law that shall be upcoming soonest in 2020. This bill was first announced December last year and aims to overrule various regulations concerning different topics. After several failed attempts, a draft bill has been submitted to the House of Representatives on 12 February. Here are some of the recent developments on the bill that could significantly change the business climate in Indonesia: The draft is 1028 pages long containing 1200 articles covering 11 topics, with the main topics being job creation, taxation and SMEs. It shall be replacing in one go dozens of other laws with thousands of implementation regulations that are all together seen as the root of the…

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Avoiding miseries when setting up businesses in Indonesia

PRIME Consultancy brings plenty of valuable experience to the table when foreign investors desire setting up a business in Indonesia. It is a pity that often shortly after such a desire is stipulated, company establishments face easily severe struggles. Plenty of documents of the designated shareholders have to be collected or even newly created. Many details about the future entity need to be decided and declared right from the beginning. What seems easy at first glance can turn out quickly complicate if not planned well upfront. Therefore, PRIME Consultancy is providing its business intelligence for setting up such new entities effectively and most diligently beyond the typical score of lawyers and agents.In some cases, investors are surprised to face chicken and egg dilemma already when…

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PRIME represents BVMW (The leading German Association of SME Businesses) in Indonesia

The owners and founders of PT PRIME Consultancy, Jochen Sautter and Volker Bromund, represent since 01.01.2020 the BVMW in Indonesia.The BVMW is a politically independent association which caters for all commercial branches and professions and represents the interests of small and medium-sized businesses in politics, with administrative authorities, with trade unions and with major companies. Medium-sized businesses – around 3.3 million individual enterprises in all – are the backbone and impulse of the German economy.With thousands of members and a network of over 300 regional and local offices in Germany and 40 offices abroad the BVMW offers a wide range of events (2,000 per year), contacts (800,000 business contacts) and support to members.Jochen Sautter and Volker Bromund will be the contact persons for all BVMW…

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