Izinkinga zokuqala zokushoda kwezikweletu zishaya izinkampani ekugcineni ochungechungeni lokudla lwebhizinisi.Gcoba ngaphambi kokuba ukuminya kushube.

Izinsuku zokuthola imali kalula, ezishibhile seziphelile.Isivunguvungu esiphelele sokukhuphuka kwamazinga enzalo, ukusabalala kwezikweletu okubanzi phakathi nesiyaluyalu somnotho kanye nokuqiniswa kwenani lebhange eliphakathi kuyiminyanisa izinkampani ezikala udoti.

Iminyaka embalwa edlule yayiyindida, ngokusho kukaTony Carfang, umqondisi ophethe e-Carfang Group, inkampani yezomgcinimafa: “Imibandela emihle yezimali yeminyaka emibili edlule yayingavumelani nombono wesikhathi eside wesikweletu esinenzuzo enkulu. emakethe.”

Izinkampani ezithole imali kabusha ngenkathi kuqubuka ubhubhane lwe-Covid-19 zihlezi kahle-okwamanje.Mayelana nezinkampani ezidinga ukuxhasa kabusha izakhiwo zezikweletu ezikhona noma ukuthola amadili amasha okuthola imali, izinketho zazo ziya ngokuncipha.

“Izinkampani [ezinezinga eliphansi] zingangena endaweni enzima njengoba amanani enzalo ekhula ku-Eurozone,” kusho uFrançois Masquelier, usihlalo ozinze eLuxembourg we-European Association of Corporate Treasurers.“Ukwenyuka kwezinga lenzalo kungaba yimbangela yokufinyelela kalula isikweletu.”

Ukuminyana kwezimali kusebenza ikakhulukazi ezinkampanini ezithenge ekuqaleni konyaka noma ngonyaka odlule ngosizo lwemalimboleko yamabhuloho, ephelayo.Ukukhishwa kwebhondi kungaba isinyathelo esilandelayo esisobala, kodwa lokho kungase kube nzima.Sehlile isibalo sezinkampani ezikhipha ama-junk bond kulo nyaka.Emhlabeni jikelele, izinkampani ezingama-210 zikhiphe ama-dollar ayizigidi eziyizinkulungwane ezingama-111 phakathi nezinyanga eziyisishiyagalombili zokuqala zonyaka.Lokho ukwehla okukhulu kusukela ngonyaka odlule lapho izinkampani ezingu-816 zikhipha amaRandi ayizigidi eziyizinkulungwane ezingu-500, ngokusho komhlinzeki wedatha uDealogic.

Ukuwa kusabalele kulo lonke elase-US, i-Europe kanye ne-Asia-Pacific ngokwengxenye ngenxa yokuthi izinkampani zagcwala izikweletu ngo-2021 kuyilapho zibiza kancane.Ngakho-ke, abanaso isidingo sokuvuselela kabusha ngo-2022. Kodwa-ke, kuyabiza kakhulu futhi ngakho-ke akukhangi kakhulu ukukhipha isikweletu esisha.

"Okunye kwalokho kudonsela emuva bekungokwemvelo-ijubane lika-2021 belingagcini," kusho u-Eric Rosenthal, umqondisi omkhulu kwezezimali ezithuthukisiwe kwa-Fitch Ratings."Kodwa iqiniso ukuthi sibheka ukukhishwa okungenzeka kube phansi njengoba sasikhona ngo-2008, okuyinto emangalisayo."

Imakethe yebhondi yebhizinisi esezingeni eliphezulu, ngokwesibonelo, “ifile.”Lokho ngokusho kwenhloko eyodwa yezamabhange yokutshala imali ebhange laseFrance eLondon.Isikhungo sokuqala socingo lwebhizinisi yibhange labo lokwelula imali ebolekiwe yebhuloho noma bamise isikhungo sesikweletu sesikhashana kuze kube yilapho sebekwazi ukukhipha ibhondi, echaza.

Thengisa ukuze Ukhukhumeze Isikhwama Senkampani

Enye inketho yezinkampani ezingaphansi kwengcindezi edinga imali ukwenza ukubuyekezwa kwamasu futhi kucatshangelwe ukuthengisa impahla.Izinga elizenzakalelayo lababolekayo abanesilinganiso esingafuneki lihlelelwe ukuthi likhuphuke.Ngemuva kokulahlekelwa okukhulu kulo nyaka, amabhange ayapholisa izinkampani eziyingozi ezincwadini zazo.

Amabhange ase-US naseYurophu kulindeleke ukuthi alahlekelwe ngaphezu kwezigidigidi ezi-5 zamaRandi ngenxa yemali mboleko eyingozi yokuthenga.Ababolekisi abakhulu baseMelika i-Bank of America kanye ne-Citigroup babhale phansi u-€1 bhiliyoni emalini ebolekiwe etholakalayo kanye neyebhuloho engxenyeni yesibili iyodwa, kubika i-Reuters.

U-Wells Fargo ubhale phansi amaRandi ayizigidi eziyi-107 ezibophweni ezingaxhaswanga ngezimali lapho ukwanda kwezimakethe kushise ibhange.Ibhange lesithathu ngobukhulu ngempahla e-US lithole “ukonakala kwezibambiso zezabelo” zamaRandi ayizigidi ezingama-576 ngemuva kokuwohloka kwemakethe engxenyeni yesibili kulimaze ibhizinisi lalo lemali.I-Fitch ibikezela ukuthi izinga lokuzenzakalelayo lamabhondi esivuno esikhulu lizophindeka kabili libe ngu-1% kulo nyaka e-US kanye no-1.5% eYurophu futhi likhuphuke lifinyelele phakathi kuka-1.25% -1.75% no-2.5% ngo-2023, ngokulandelana.

Abathengi baqinisa amakhanda njengoba kunzima, bafaka ingcindezi ezinkampanini ezithwele izikweletu ngezikhathi ezimnandi kodwa ezingakayitholi inzuzo.Ngo-2021, i-Just Eat yayigibele phezulu ngemva kokuthenga imbangi yase-US i-Grubhub ngama-euro ayizigidi eziyizinkulungwane ezingu-7.3 ukuze ikhulise isabelo sayo semakethe yokuncintisana yokulethwa kokudla.Ngemva konyaka, emuva kwenhlanhla, umdondoshiya ufuna imali.

Ngo-Agasti, cishe unyaka ngemva kokuba ifake inkontileka yokuthenga i-Grubhub, i-Just Eat yabhala phansi u-€3 billion ekuthengweni kwayo.Yabe isithengisa ingxenye yayo kuhlelo lokusebenza olunenzuzo lokulethwa kwe-iFood yaseBrazil ngama-euro ayizigidi eziyizinkulungwane ezingu-1.8 ukuze iqinise ishidi layo lebhalansi futhi ikhokhe isikweletu.

"Sizobona okuningi kwalezo zinhlobo zokuhlelwa kabusha noma ama-spinoffs avumela inkampani ukuthi ikhuphule ukulingana noma ithuthukise ukwakheka kwebhalansi yayo," kusho uCarfang.“Uma uthenga isikhathi, lezo zinto zingase zisebenze.Kodwa kunomkhawulo kulokho lezo zinto ezingakwenza.Uzulazula uze unqunu uzokwenzenjani?"

Izimo zezimali zizoba nzima, zibikezele ochwepheshe, njengoba amabhange amakhulu ekhulula iminyaka yenqubomgomo yezimali exegayo.IBhange LaseNgilandi lihlela ukuthengisa cishe u-£200 wezigidi zamabhondi ezinkampani ngesonto, okuzokwengeza ama-£10 wezigidigidi ngekota, njengengxenye yezinhlelo zalo zokuhlehlisa umfutho.Ukuqiniswa okulinganiselwe sekuqalile kakade e-US, kanti i-Federal Reserve isebenzela ukuhlehlisa ibhalansi yayo engu-$9 trillion eminyakeni emine ezayo.

I-Stagflation—i-triumvirate yokwehla kwamandla emali aphezulu, ukuntuleka kwemisebenzi kanye nomnotho ontengantengayo—kuphinde kube usongo olukhulayo kubaboleki abanezinga eliphansi, ikakhulukazi labo base-Europe, Middle East nase-Afrika.Lokhu kwehla ekukhuleni komnotho okuphansi e-Europe, okubhebhethekiswa ukushaqeka okungajwayelekile njenge-Brexit, kanye nezinkampani ezimbalwa emikhakheni eqhuba kahle njengempahla.

"Izingozi ziyanda emikhakheni esengozini yokwehla kwamandla emali kanye nokuhlehla esidingweni sabathengi," kusho umqondisi omkhulu we-Fitch Ratings uLyuba Petrova."Abakhiqizi bezimali abasebenzisa imali e-Europe bane-cushion encane uma beqhathaniswa nontanga yabo base-US."

Yiba Umboleki Ohlakaniphile

Abagcinimafa bezinkampani kanye nabaqondisi bezezimali kumele bahlakaniphe ukuze bathole izimakethe zezimali ukuze bathole uxhaso ngezikhathi eziguquguqukayo.“Asiboni izinkomba zokuthi izimakethe zizoxega,” kusho u-Sarah Boyce, umqondisi osebenzisana naye kunqubomgomo kanye nethimba lezobuchwepheshe e-UK's Association of Corporate Treasurers."Lokhu kuzwakala sengathi kuzoba yinto entsha okwesikhashana."

Kepha, uyengeza, izinkampani kumele zizilungiselele kahle ukungena ngaphakathi ngesikhathi izimo zibukeka zizinhle.“Izimakethe zizovulwa isikhathi esifushane kakhulu, ngakho-ke udinga ukulungela ukucindezela inkinobho,” usho kanje.“Awufuni ukuqala uhlelo uma kuvulwa imakethe.Ufuna ukulungela ukuhamba.Into yokugcina oyidingayo ukuthola ukuthi udinga imvume yebhodi nokuthi kuzothatha amasonto ayisithupha, ngoba ngaleso sikhathi imakethe yayingavuleka futhi ivalwe.”

Izinkampani ezidonsa kanzima ezifuna ukukhipha isikweletu noma ukulingana zingafuna abadlali abazimele ukuze bathole usizo lokudlula umugqa wokuqeda.Ngasekuqaleni kwalo nyaka, umdayisi wezimoto ezingamasekeni uCarvana waphendukela ku-Apollo Global Management ukuze aqoqe cishe amaRandi ayizigidi eziyizinkulungwane ezingu-1.6 ukuze athole ibhondi emisiwe yamaRandi ayizigidi eziyizinkulungwane ezingu-3.3 ukuze axhase ukuthengwa kwayo.Ifike ngezindleko: isivuno sika-10.25%.

Ngaleso sikhathi, izinkampani zingasebenzela ekuthuthukiseni izinqubo zokuphatha imali, njengokwenza ngcono imigomo ye-invoyisi kanye nokuqoqa imali evaleleke ehlezi engenzi lutho ezinkampanini ezingaphansi kwamanye amazwe.Manje yisikhathi sokuthi izinkampani zicindezele ubudlelwano bazo obukhona ukuze zithole inzuzo enkulu."Gxila ebudlelwaneni bakho obukhona bochungechunge lokuhlinzekwa kwezimali," kusho uCarfang.“Hamba ebhange onikeze ibhizinisi kakhulu kulo esikhathini esidlule.Hamba uye ebhange okwaziyo.Iya emabhange aqondayo imboni yakho ngakho-ke angahle angabi nkulu kakhulu ekusabalaleni kwezikweletu abakubizayo. ”

“Yana emabhange angase ajabulele ibhizinisi elisizayo, njengebhizinisi lokuphatha imali ongakwazi ukuwanika lona ukusiza ukunxephezela ubungozi, esikhundleni sokuqala ubudlelwano obusha ngokuphelele—ngoba lezo zizomba eqolo.”