♣ 45% jump in sales on credit: 56% of B2B sales by value transacted on credit, up from 39% last year
♣ Stricter payment terms: Average payments requested within 20 days
♣ Rise in uncollectable debt: Write-offs rise to 2.5% of all invoices by value
♣ Supply chain impacts: 45% delay payment to their own suppliers when hit by late payment
♣ Atradius advice: Seek protection in climate of economic uncertainty and rising insolvencies
Sales on credit are on the up despite the prevailing economic challenges as UK businesses strive to appear more attractive to potential customers, reveals the latest economic report by trade credit insurer Atradius.
The Western Europe Payment Practices Barometer research report by Atradius found offering credit was being used by UK firms as a tool to increase and retain sales and to provide customers with short-term financing during...