European Payment Report 2017
The European Payment Report 2017 draws insights from 10,468 companies across 29 countries in 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. The report was published in June 2017.
Late payments threaten business survival
27% of European businesses stated that late payments posed a threat to their survival. SMEs were particularly vulnerable, as liquidity pressures forced many to accept longer payment terms than they were comfortable with.
Northern vs. southern Europe payment behaviours
Companies in Northern Europe offered shorter payment terms of around 22 days, while those in Southern Europe extended payment terms to 32 days. Late payments had a more significant impact on liquidity in the South, where 63% of businesses reported squeezed cashflows compared to 42% for the whole of Europe.
Faster payments can create more jobs
Faster payments could spur job creation, with 23% of businesses indicating they would hire more staff if payments were received on time. This was especially true for SMEs, where strained liquidity limits expansion and employment opportunities.
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