Improving your company's financial situation in times of crisis

ABV Development is there to help them take advantage of the measures of financial support for innovation existing ones or to alleviate their fiscal situation. In a context of economic crisis, any help is welcome.

The economic crisis that will follow the health measures taken to slow the spread of Covid-19 is likely to affect the financial health of many companies and organizations. In this context, economic actors must activate all the levers at their disposal to maintain a healthy financial situation, without giving up on their investment projects. “Our role, within ABV Development, is to support actors in their efforts and allow them to take advantage of new financing tools”, assures Gaëtan Looverie, Business Development Manager at the consulting firm ABV Development. “Numerous possibilities can be considered in this perspective. Starting with an analysis of the company's situation, by seeking to fully understand its projects and needs, our teams will seek new financial resources or help it recover the amounts of money due. In this approach, we position ourselves as a partner for our customers. We share their goals by being paid directly according to the results of the steps we take together.”

What are the main levers available to businesses for improve their financial situation ?

Obtaining innovation grants

“Most industrial companies, experts in their sector, innovate or do R&D, sometimes without even realizing it. However, there are currently a large number of measures to support innovation granted by the various levels of government in Belgium. This aid may take the form of subsidies granted or even in the form of a tax credit, continues Gaëtan Looverie. Actors are often not aware of the existence of these aids. The procedures to benefit from these subsidies can be complex. Our role, alongside our clients, is to identify those for which their investment projects are eligible and to implement procedures to recover them.”

Eligible investment projects may be of various types. For example, the deployment of an assembly line integrating new equipment or projects aimed at a more sustainable use of energy can give rise to grants. “Entrepreneurs, and even financial managers, can rely on us to get this support. We have developed real expertise in this field and can support both major players and SMEs in such approaches.”

Reducing employer charges

ABV Development can also help businesses reduce the cost of work. For example, it is possible to go back three years to claim rights to reductions in employer contributions granted in the three regions of the country for certain categories of workers. “At the start of an NSSO audit, we can identify the discounts that the company was eligible for and that it did not claim. By requesting a change, you can recover amounts unduly paid and relieve cash flow.” assures Gaëtan Looverie.

Reducing the tax burden

Businesses can also take advantage of tax incentives. “ABV Development's first job is to help companies review their tax base (cadastral income, equipment and tools, buildings)”, continues the Business Development Manager. In most businesses, tax expenditures can be optimized, thanks to the possibilities of existing exemptions from withholding payments, especially those related to research and development. “We are going to study our customers' tax base to see how to optimize it and consider measures to alleviate the financial burden in the short and medium term.”

Maintaining investments to prepare for the future

Other assistance can be mobilized, such as employment assistance for example, which ABV Development can also include in its support. The support provided by the consulting company does not involve significant mobilization of resources on the part of the company. La control of procedures and regulations of ABV teams allows them to establish a rapid diagnosis, during a single meeting, and to activate the procedures based on documents sent by the client. “We are working alongside actors to help them get through the difficult times ahead, explains Gaëtan Looverie. By relieving their cash flow and allowing them to improve their financial health, we want to help them maintain their production level and pursue their investment projects. In this way, they are in a position to prepare for tomorrow and to remain at the forefront of their sector.”