The European Payment Report describes the impact late payment has on the development and growth among European enterprises. Based on the results from the report we gain a better understanding of how European enterprises view payment behavior in their country.
About the European Payment Report
The European Payment Report 2016 is based on a survey that was conducted simultaneously in 29 European countries between February and April 2016. In this report we gathered data from thousands of companies across Europe to gain insight into the payment behavior and financial health of European businesses.
Through this comprehensive survey among European companies, we generate awareness and debate among politicians and the media, for example, how late or non-payments impact the economies of the EU. We participate in seminars and meetings in Brussels to inform EU delegates of the situation and the best approaches in working for a sound economy and secure payments in Europe.
Late Payment Directive
Many payments in commercial transactions between businesses or between businesses and public authorities are made much later than agreed. This is very costly for businesses. To protect European businesses, particularly SMEs, against late payment, the EU adopted Directive 2011/7/EU on combating late payment in commercial transactions in February 2011. The directive recommends that payment periods for companies be at most 60 days and for public authorities 30 days.