‍Good morning everyone, the times are a bit exciting right now and it rises from day to day, depending on what appears in the box.
You have heard it before and you will hear it again, right now you are the most important, and by that I mean all of you who are actively working with your companies today. This is where you are needed most and for many of you it will be difficult. But you are not alone, we at Saldo are by your side.

Saldo will help you ease the pain during this journey, because it is all about relieving and surviving. We fight together with you. If we have not already contacted you, raise your hand, we will come to the rescue with our solutions and suggestions.
And you, we don't charge for this initial call.

How are companies going to cope with it, well that question is not entirely easy to answer and not everyone will cope. But asking for help can be the difference between life and death. We are continuously talking to our customers right now and trying to be there as support, find solutions, take advantage of the few things that the government has put in place as support. And there are things to do, no world-revolutionary things, but well things that make a difference. When your sales are drained, it's hard to have counterforce, and in the end, maybe it's just bankruptcy left. But let's give some concrete tips on action before then.

• Review the income statement for unnecessary expenses. The single most important point. There are always costs that are not really needed, remove them.
• Look at the staffing level, can/do you have to lay someone off or even lay someone off, or can you renegotiate someone's salary. Tedious things to do, but distress has no law at this moment.
• What do your personal finances look like, can you lower your own salary.
• Can you negotiate discounts on the purchase of goods, or find other suppliers?
• Find out how much the company has to trade in order to break even.
• What does the ability to pay on your accounts receivable look like, you can change this so that payments come in faster.
• Are there any opportunities to sell more, new markets, new products, etc. In times of crisis, we usually have the greatest creative solutions. Extend and enforce these.
• Rent — talk to the landlord regarding reduced price/exemption with payment.
• Loans — talk to the lender/leasing company if they can wait with the amortization during these times.
• Change the F-tax, set it down to zero for 2020. Review 2019 and request early payment in case there is a lot of money to be recovered.
• A control balance sheet must be produced in case half of the share capital is used up, it is important to follow this up on an ongoing basis. You do not want to be personally liable for payment of the company's debts in case it becomes bankrupt. IMPORTANT!!
• Develop an action plan and follow it up.
• Develop a liquidity forecast.

If you need help with any of the above, please contact us.

Proposals from the government:

• Reduction of the employer contribution to 10.21% for March-June. This applies to companies for the first 30 in the company and a salary up to 25,000 SEK per month. Then it gives a relief per salary and month up to a maximum of 5,300 SEK
• Short-term leave.
• Rent reduction. Temporary discount for rental costs in vulnerable industries such as retail, hotels, restaurants and certain other businesses. It is a grant of SEK 5 billion that will go towards rent reductions, where the state pays up to 50 percent of the fixed rent. However, the property owner is willing to lower your rent
• Corporate law — lending of capital where the government takes 70% of the risk and the bank the rest. In the first year there is no interest. A final step in which a greater debt burden is a disaster when the business does not go with a plus. But still important to ponder.
• Liquidity insurance at the Swedish Tax Agency — deferral of tax, employer contributions and VAT, also for the year 2019. Still a debt to be paid and it could become a personal one for the board. Just a little warning. There are suggestions that personal liability should not be imposed on these taxes, which makes it easier of course.
• Another liquidity insurance that is really good. This applies to individual firms, trading and limited partnerships. The entire profit for 2019 can be put into an accrual fund (i.e. no tax to pay for 2019), which can then be used against any loss in 2020. As always, there is a ceiling for this accrual fund - namely 1 million SEK.
• Slopped off withdrawal.
• The state takes over sick pay liability for two months.
• Entrepreneurs who become unemployed will be able to put their company dormant in 2020, which will allow for a-cash and it will also be easier to get back up and running after the crisis.

Importantly, we all talk to each other, share and help as much as we can. The more companies we can bail out, the better off our country will be when this settles down. In addition, we equip ourselves so that we can cope better with the next opportunity. Because a virus comes back, we know that.

Together!