Prevent the bad with Mezzanine capital in good times

(openPR) - the economy hums. The order books of the enterprises are stout filled and also the German middle class profited from the good economic situation. That prognosticates a current study anyhow. But also in economically good times there is a in this country large deficiency with the enterprises: missing own capital funds. The own capital funds ratio of German enterprises is far below average in the European comparison. While the current high phase of the economy however hardly an entrepreneur may concern himself with this question.

„This attitude is precariously, there the lack of own capital funds one of the main causes for enterprise insolvencies with medium-size enterprises is “, says attorney Björn Katzorke of in Goettingen the residents Wirtschaftskanzlei Dr. Werner, Dr. Gündel & Collegen attorney company ltd., which accompanies medium-size enterprises successful for 25 years with the financing over the off-board capital market. A voucher for this statement is the disproportionately high number of the insolvencies straight with small enterprises and/or in industries, which have little own capital funds. If a lack of own capital funds exists, both the capital cart-loads become through third and investments difficult and the enterprise is more susceptible to risks relating to market conditions, to which also insolvency-conditioned payment losses and bad payment moral belong.

„Nevertheless straight in economically good times one can put the foundation-stone for a own capital funds strategy, which prevents these dangers, “so to Katzorke further. Enterprises should provide in time for sufficient capital resources and/or liquidity in economically bad times. Because these will also again come. „Regarding the soil quality requirements of the banks a clearly increased measure of own capital funds is necessary to hold around existing lines of credit and new, then urgently necessary to receive credits “, supplements the Göttinger attorney. „Only in this way the enterprises can prevent that they become victims of an insolvency. “The increase of the own capital funds ratio increases the soil quality, strengthens the competitive ability and reduces in economically bad times the insolvency danger.

In particular with mezzaninen financing instruments such as benefit rights fresh liquidity can be supplied to an enterprise, which with appropriate organization as own capital funds replacement relating to the balance applies, without being correct rights must be granted to the financial sources. Capital resources are improved and the chance on a supplementing outside financing to appropriate conditions rise. The insolvency risk against it sinks. For these reasons decide ever more enterprises for an increase of own capital funds by means of a Mezzanine financing. Straight one also in economically good times.

This form of the Unternehmensfinanzierung is suitable both for the elevated middle class and for smaller enterprises. The straight latters can in-recruit themselves over a so-called „Small Money action “up to 100.000 euro at the off-board capital market, without needing for it one of the Federal Institution for supervision of financial service sales folder which can be approved. So 2006 could platzieren for example the Corporate Event service agency PRO TOURA from Bremen their benefit rights completely. And this is only one example of the constantly growing number on average-change-learns, which decide for own capital funds strategy with Mezzaninen financings.

With solid own capital funds equipment the middle class for the challenges of the future is prepared. However should not be waited with the correct own capital funds strategy to „five before twelve “. Because also a good idea is not suited to anything, if it is used too late.

Dr. Werner, Dr. Gündel & Collegen
Attorney company ltd.
Theatre place 9
D-37073 Goettingen

Partner:
RA Björn Katzorke
Tel.: 0551/4 43 43
Fax: 0551/4 43 30
info@eigenkapitalbeschaffung.de
www.eigenkapitalbeschaffung.de

Since 1981 have Dr. Werner, Dr. Gündel & Collegen attorney company ltd. accompanies more than 600 medium-size enterprises to the capital markets led, with M&A transactions accompanied and during the procurement of capital a volume of over euro 5.5 billion cared for and advisory.

Apart from the consultation with the most diverse financing solutions the power spectrum of the Kanzlei covers also reorganization and structuring as well as consultation with all questions of the financial service right (right to distribute, liability law, permission as Finanzdienstleistungsinstitut) as well as consultation, support and agency with affairs before the Federal Institution for supervision of financial service (BaFin).

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