A quarter of Flemish businesses are considering restructuring in the coming months, as confidence falls to its lowest level since the coronavirus crisis, employers’ organisation Voka says.
The warning is based on a survey of 650 companies. Four in five described the economic climate as negative or very negative, and they do not expect conditions to improve in the months ahead.
Voka said more company closures and restructurings could not be ruled out. One in three businesses expects to reduce staff numbers over the next six months.
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“The high cost of energy, rising inflation and labour costs form a dangerous cocktail,” warned Voka managing director Frank Beckx.
He urged the federal government not to introduce measures that would threaten entrepreneurship.
According to Voka, high labour costs are now the biggest concern for Flemish businesses. Almost two-thirds of companies, or 64%, cited labour costs as a major worry, up from 52% in August.
Concern about the domestic political situation is also rising sharply, increasing from 23% to 43%.
