Marc Fahrig

One in four insolvencies is due to late payments. Especially in business trans-actions between large debtors and small creditors, long payment terms re-peatedly lead to problems. As a result, particularly SMEs, which rely on pre-dictable cash flows, are forced to delay payments to their own suppliers, incur higher financing costs, and have less room for investments. With a directive aimed at combating late payments in commercial transactions, the European Commission intends to ensure more fairness. Moreover, it aims to enhance the competitiveness and resilience of small and medium-sized enterprises. While this sounds promising, it also has its drawbacks, according to experts Marc Fahrig and Ralf Ehret, who outline what businesses should now prepare for.

The International Furniture and Interior Design Fair (imm) in Cologne is the industry's annual high mass. But instead of celebrating its own successes alongside new trends, as in previous years, there was little sign of a party atmosphere last week. Quite the opposite: according to official figures from the associations, the turnover of furniture manufacturers and retailers fell by 5 to 7 per cent last year, with a drop of almost 12 per cent for living room, dining room and bedroom furniture. Six out of ten manufacturers are working short-time. enomyc industry expert Marc Fahrig spoke to Jan Kurth, Managing Director of the German Furniture Industry Association (VDM/VHK) and Markus Meyer, President of the German Furniture and Kitchens Trade Association, about the causes of the crisis, current priorities and new opportunities . [1]

New kitchen, new bed, new desk: during the pandemic, but also afterwards, Germans have invested heavily in their own four walls. "My home is my castle" has also taken on a new meaning as a result of the home office boom. Furnishing has long been about more than just living, but also about table and chair height or optimal lighting for the home workplace. In the meantime, the good mood has faded. In this interview, Marc Fahrig, sector & retail expert at enomyc, explains the background to the turnaround and explains how retail and industry can meet the challenges.