Poor payment practices have been a significant challenge for many Canadian businesses. According to the Atradius Payment Practices Barometer survey for Canada 2024, nearly half of companies across various industries have struggled with delayed or incomplete payments from their B2B customers over the past 12 months. In addition, many Canadian businesses are increasingly pessimistic about the outlook for insolvencies, with 55% expecting conditions to worsen in the coming year. This concern is especially pronounced in the energy and fuel sectors, where financial vulnerabilities could lead to significant distress.
You can read more and view the report from Atradius here https://group.atradius.com/publications/payment-practices-barometer/b2b-payment-practices-trends-canada-2024.html
