Of the Eastern European countries surveyed, Bulgaria had the highest DSO and 19.8% of respondents expect another slight increase over the coming 12 months.
Of the Eastern European countries surveyed, Bulgaria had the second lowest proportion of B2B sales on credit. Respondents in the country said that they mainly opt for trade credit because of established, long-term business relationships. Trust and convenience were also frequently mentioned. The proportion of past due B2B receivables is the lowest in the region but the impact of overdues cannot be neglected. Bulgaria had the highest percentage of respondents stating that payment delays were a consequence of insufficient availability of funds. Only domestic B2B receivables were written off as uncollectable and the main reason thereof is the customer going bankrupt or out of business.
Read the full article here: Bulgaria: delays caused by insufficient funds