Danish voluntary network to teach European businesses how to avoid bankruptcy
Early Warning, a Danish voluntary network of financial advisors, will be used as a model in Cyprus to assist companies and entrepreneurs in danger of bankruptcy in turning their finances around and getting out of debt.
After nine years of successful work at home, Early Warning sells a custom-made guide to authorities on the Mediterranean island, and the network is also in talks with countries such as Brazil, Poland, Spain and the UK.
“We have made a bid for an EU project worth 38 million kroner that would implement the ideas of Early Warning in at least four European countries over the next three years,” Søren Boutrup, the chief consultant at the Danish Business Authority, told Finans.
“If we win the contract, it will open the doors of the world for us.”
Expert advice for free
Early Warning was established by the Danish Business Authority in 2007.
It is a network of about 100 volunteers, including experienced professionals and executives who advise companies across the country on financial issues, free of charge.
“We believe we are the absolute best in the world. It is unique for Denmark that we have a group of 100 business people volunteering for a government project nine years in a row,” Boutrup noted.