White Paper 2018: Industry deep dive
The Industry White Paper comes as an additional publication to the European Payment Report 2018. The White Paper provides valuable insights into payment behavior on a national industry level, based on data from of extensive research of more than 10,000 companies in 29 European countries.
Increased pressure for longer payment terms
61% of European businesses reported facing pressure to accept unreasonably long payment terms in 2017. Sectors like Mining and Quarrying were particularly affected, with 83% of businesses reporting this challenge.
Severe consequences for liquidity and income
On average, 40% of businesses reported that late payments significantly impacted their income, and 42% experienced liquidity squeezes. Real Estate and Accommodation sectors were hit hardest, with 54% rating the impact as severe.
Late payments leading to employee dismissals
Late payments contributed to the dismissal of employees in 55% of Agriculture and Fishing businesses, significantly above the European average of 19%, illustrating the far-reaching consequences of delayed payments.
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