On the front cover of today’s edition of the Icelandic newspaper Fréttablaðið, there is an article about the problems that Icelandic companies are facing. In the article, it is stated that of the 6.000 small and medium-sized companies in Iceland, 1.500 will most surely go bankrupt without some action from the Icelandic government and banks. Another 2.500 companies are also facing financial difficulties, so the number could go much higher than 1.500.
The government, in cooperation with the Icelandic banks, is now launching a program called “Beina brautin,” aimed at assisting small and medium-sized companies. So far, we still don’t know how it will turn out or what it will actually be able to do for these companies.
The fact that the government jumped in right after the crisis to help the banks and many larger companies, but is only now trying to assist smaller companies, once again proves the saying:
“It is better to owe the bank $10 million than $10 thousand.”
Frumkvöðull í meira en 20 ár. Stofnandi 7 fyrirtækja og Frumkvöðlar-samfélagsins. Skrifar um ferðalagið — gott og illt.
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