European Payment Report 2016
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.
SME vulnerability to long payment terms
43% of SMEs were pressured to accept longer payment terms than they were comfortable with, with large multinationals often driving these requests. This practice places additional pressure on smaller businesses, limiting their cashflow and growth opportunities.
Faster payments could drive job creation
Over a third of European SMEs (34%) said they could hire more staff if they were paid faster. The report estimates that faster payments across the region could potentially lead to the creation of 7.7 million jobs.
Late payments threaten business survival
33% of European businesses, especially SMEs, view late payments as a threat to their survival. Strained liquidity was cited by 46% of respondents as a significant issue during 2016.
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