European Payment Report 2015
The European Payment Report 2016 draws insights from 9,440 companies across Europe. The report provides insights into the payment behaviours of European businesses and examines trends related to late payments, invoice payment practices, and overall financial risk.
Disparity in payment terms across regions
Northern European companies report shorter payment terms and quicker payments compared to Southern Europe. In the South, 74% of businesses reported being asked to accept longer payment terms, compared to only 20% in the UK.
Employment impacted by late payments
34% of businesses said they were unable to hire due to late payments, and 24% said they considered dismissing staff. The challenge was especially pronounced in Southern Europe, where companies faced more significant payment delays.
Average bad debt written off: 3.1 %
European businesses wrote off an average of 3.1% of their yearly revenues due to unpaid invoices. In Greece, this figure was as high as 10%, posing a significant challenge to businesses in maintaining profitability.
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