New signs of economic downturn – British businesses offering longer payment terms
Industry News | 12/06/19
Companies around Europe predict increased bad debt losses, later B2B payments and higher debt risks are ahead, according to the European Payment Report from pan-European credit management firm Intrum.
Figures from the report:
• UK companies wrote off 3.0% of their revenue because of bad debt losses in 2018, up from 2.0% in 2017 – but lower than 2016’s reported 4.7%.
• UK businesses offer more generous payment terms than most European countries to corporate customers and consumers (45 days and 25 days respectively, compared with European averages of 34 days and 21 days).
• Almost a third (32%) of UK businesses using international payments said currency issues are negatively affecting them.
Source: PR Newswire
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