Most of the businesses polled in Eastern Europe predict growth in 2022. However, this optimistic outlook is tempered by the acknowledgement of downside risks.
Most of the Czech businesses polled opted to manage customer credit risk internally. However, and despite their efforts, many were not successful at containing year-on-year increases in DSO.
Amid predictions of growth, businesses surveyed in Poland reported having struggled with rising credit management and debt collection costs in recent times.
Businesses polled in Romania favoured the surety of cash sales this year. However, this put them at a disadvantage in a global market place where credit terms are a competitive tool.
Most of the businesses polled in Slovakia reported a decline in late payments. This highly reflects the widespread adoption of credit insurance amongst local businesses polled.
Spain expects elevated insolvency levels in 2022. Businesses polled in the country reveal an increased appetite for the use of credit insurance over the coming months.
Despite further deterioration of the insolvency environment in Italy over the coming months, economy has started to grow again and with that business confidence in the future.
As the UK economy rebounds from the double shock of Brexit and the pandemic, businesses seeking growth should take steps to protect their accounts receivable from the impacts of trade credit risks.
Swiss businesses polled for the Payment Practices Barometer reported a challenging 2021, with sharp deteriorations in customer payment behaviour and big increases in write-offs.
Businesses polled in Sweden expect to see an increase in the frequency of credit sales, largely as a way of providing short-term finance for their B2B customers.
The pandemic-induced economic challenges fed into the payment delays and write-offs that have impacted the key markets we polled in the Netherlands this year.
Forecasts anticipate Ireland’s growth in 2022. However, a large proportion of the businesses polled in the country expressed a note of caution. Unknowns over the pandemic are still many.
Greece should see GDP return to pre-pandemic levels by the end of 2022. However, this brighter outlook appears to be clouded by businesses' sense of caution over long-term after-effects of the crisis.
German GDP is forecast to rebound this year, enjoying a more robust acceleration by year-end 2022. However, late payments across industries cast a cloud over this outlook.
Late payments are a widespread issue among businesses we polled in France. Reportedly, higher use of credit insurance will help them mitigate the impact of trade credit risk on the business.
In response to deteriorating payments behaviour over the coming months, businesses polled across Belgium focus on taking steps to protect their business from the impacts of customer credit risk.
This year’s Payment Practices Barometer survey reveals that Austria is working hard to overcome the economic impacts of the pandemic. A few indicators were particularly concerning for businesses.
Although the chemicals industry contracted slightly during the pandemic recession, new opportunities are opening up, driven by shifts in customer demand and new technologies.
