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Global economic growth remains tepid and weaker than expected. A ‘new normal’ of structurally lower growth rates in both advanced and emerging markets has become manifest.

International survey of B2B payment behaviour Survey results for Slovakia

Despite the significant amount of time given B2B customers to pay their invoices, a sizeable proportion of the total value of domestic B2B receivables in Turkey (55.2%) was overdue.

In Hungary, late payment of invoices is reflected in the DSO figure, averaging 80 days. This is significantly above the 59 day average for Eastern Europe.

2015 is expected to be a difficult year for Eastern Europe. This is forecast to place a long-term strain on corporate payment behaviour in many countries in the region.

Respondents in the Czech Republic show a relatively stronger preference for selling on credit to domestic than to foreign B2B customers.

The 80 day average DSO recorded in Poland (and Hungary) is the longest of all the countries surveyed in Eastern Europe.

An agreement curtailing Iran’s nuclear programme in exchange for the lifting of international sanctions could reopen the Iranian economy to Western exporters, creating opportunities but also risks.

33% of survey respondents in Sweden (compared to 20% in Western Europe) consider a fall in demand for their products and services as one of the greatest challenges to business profitability in 2015.

When asked to indicate the greatest challenge to business profitability in 2015 two in five Greek respondents indicated maintaining adequate cash flow and collection of outstanding invoices.