Over the past year, the trade credit risk situation in Ireland has significantly deteriorated in all sectors surveyed. Payment delays have increased by 20% and bad debts have almost doubled compared to previous levels. Late payments now impact approximately 58% of all business-to-business invoiced sales, posing a clear risk to the liquidity of businesses. Surprisingly, these concerning trends have emerged despite the fact that companies in Ireland maintain a steady interest in selling on credit and have adopted a more lenient trade credit policy. Many companies surveyed stated that they prefer using trade credit as a means of securing short-term financing instead of opting for less affordable bank loans.
Learn more here: https://atradius.ca/reports/payment-practices-barometer-b2b-payment-practices-trends-ireland-2023.html
