Gloomy picture for self-employed people and small businesses: What the Schufa survey reveals about the economic situation

Gloomy picture for self-employed people and small businesses: What the Schufa survey reveals about the economic situation

According to a report by www.merkur.de, an exclusive Schufa company survey shows that the situation for self-employed people and small businesses in Germany is very challenging. The order situation has worsened for more than one in three compared to the previous year, and no real improvement is expected for 2024. More than half of the companies surveyed fear a loss of sales and income in the coming year.

The poor order situation and increased costs also have an impact on consumers, as half of small businesses and 39 percent of solo self-employed people announce price increases. They also want to continue to postpone investments, which will have an impact on other sectors of the economy. In addition, it was reported that almost one in three companies overdrew their company account in the last six months.

Given these survey results, it is likely that the market will be influenced by the price increases. Consumers have to expect higher prices, and the hesitant investments of small businesses and self-employed people could have a negative impact on the economy. The tight financial situation could also lead to a decline in consumption, as respondents say they have difficulty building up reserves and putting money away. Ultimately, this could lead to an overall slowdown in economic activity.

It remains to be seen whether these survey results will be confirmed in the coming months and what specific impact they will have on the market and the financial industry.