2023 companies hit cash
The companies that are preparing to close 2022, when there has been a historic rise in labels due to inflation, as their stocks melt, are preparing to open 2023 with the problem of cash and production costs. Although it is pointed out that a significant part of the profits registered in 2022, when inflationary accounting is not in force, and with large increases, will be taxed, it is highlighted that the hourly control in ‘cash flow’ is emphasized.
THE MARKET GETS DIFFICULT
“The era of customer financing has begun. I think it will put a lot of pressure on these companies,” said EY Turkey Country President Metin Canoğulları, “Everyone needs to make a monthly, weekly and daily cash flow statement. It is very important to check the cash flow even on the hour, because you can’t breathe for 45 seconds. So is cash,” he said.
Noting that the most important problem is the inability to replace the product sold, Canoğulları pointed out that a legislative change could be made to combat inflation on the one hand and apply inflation accounting on the other.
Stating that otherwise the market will struggle next year, Canoğulları said, “Paying the tax after the profits, especially in the inflationary period, are adjusted for inflation, will ensure that the capital of the companies is maintained. strong. Otherwise, it will make the already struggling market a bit more difficult. Everyone pays their taxes, but because the same wheels can’t turn next year, the cuts begin this time. So either you are going to lay off staff or you are going to close the store. This negatively affects employment, ”he said.
Metin Canogullari
The companies should go to merge
Metin Canoğulları, who pointed out that there was a slowdown in the textile sector in the first place when analyzed at the sector level, stated that the factories worked for 15 days and stopped production for 15 days. Expressing that there is also a slowdown in the iron and steel industry, Canoğulları stressed that all large holdings and companies in Turkey should focus on their core business and seek consolidation (merger). On the other hand, Canoğulları stated that foreign investors showed interest in Turkey in areas related to production and medium-sized companies stood out here.