How do buyers value companies with many freelancers?

Buyers value companies with many freelancers lower due to legal and fiscal risks regarding false self-employment. Recent and upcoming legislation (DBA Act, end of the enforcement moratorium, stricter case law) means that buyers conduct in-depth research into contracts, actual working methods, SNA/NEN audits, and potential financial consequences. The better the compliance and substantiation, the higher the valuation remains.

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