European Payment Report 2021
The European Payment Report (EPR) describes the impact late payments has on the development and growth among European businesses. The insights are based on a survey of more than 11,000 companies in 29 European countries, conducted between 25th of January and 16th of April 2021.
Businesses are bruised but hungry for a new chapter of growthOver the last 12 months, Covid-19 has brought many European businesses to their knees and executives foresee uncertainty for several years to come. However, regardless of the uncertainty created by the pandemic, European businesses are more enthusiastic about growth and the future than they have been for many years.
The payment gap has narrowed on the back of government support – but how long will it last?Government support, in combination with the stricter payment terms described above, has supported liquidity and narrowed the payment gap in some countries.
Late payments remain a major concernThe risk of late and non-payments will grow as businesses reach the EU limits of state aid and as government support is withdrawn. Executives say late payments are hindering growth and sustainability; in some countries more than others.