Today we launch the European Payment Report 2020
Intrum is today publishing the 22nd annual edition of the European Payment Report, outlining the impact of late payments on business growth and financial health among 10,000 businesses across 29 countries in Europe.
2020 will be remembered for the impact of the Covid-19 pandemic, and Europe’s businesses will likely feel the impact for many years. While maintaining a healthy cash flow is top of the agenda for European businesses, as it enables the companies’ ability to meet financial obligations, pay staff and fund future growth. The widespread shutdown of Europe’s economies from March has put that lifeline under threat.
This year's results show shaken European economies and business operations that are brought to a halt in many sectors.
Key findings:
- European businesses are preparing for a historic recession.
- A widening payment gap threatens business growth.
- Real estate and construction sector hit hardest by late payments.