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Eastern European payments
Despite the challenges faced during the second year of the pandemic, the Atradius Payment Practices Barometer Survey Results for Eastern Europe paint a promising picture of businesses in the region.
Key metrics, including the percentage of write-offs and total volume of overdue B2B invoices, show little year-on-year change, with write-offs averaged 5% of B2B invoices’ total value this year, the same as last year. This contrasts with the survey results for Western Europe, where write-offs increased from 7% to 10% of B2B invoices’ total value.
Overall, business confidence in Eastern Europe is strong. Over 70% (73%) of the region anticipates growth next year, with stand-out results seen in Slovakia and the Czech Republic where businesses predict growth of 87% and 84% respectively. However, this buoyant mood is tempered by downside risks. Insolvency risk is likely to rise in 2022. While this risk is highest in Italy and the UK, bad debt risks are also higher for businesses that trade with these markets.
“Businesses, especially those involved in export and international trade, would be well advised to take steps to protect their accounts receivable from the risk of non-payment now, before we enter the more challenging insolvency conditions anticipated in 2022,” says Thomas Langen, Atradius’ Senior Regional Director Germany, Central and Eastern Europe.
The full report is available at https://atradius.co.uk/reports/payment-practices-barometer-eastern-europe-2021-buoyant-business-mood-tempered-by-risk.html
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