Webinar on Zoom
Late payments are a major obstacle to the competitiveness and growth of businesses across the EU, having particularly dire consequences for SMEs. Delayed payments significantly affect firms’ ability to invest in expanding their product and service offerings, hinder efforts to enhance their sustainability performance, and impede their digital transformation strategies.
Despite the known consequences of late payments, the situation only seems to be worsening. The recently published 2024 Annual Report of the EU Payment Observatory highlights a concerning trend: in 2023, the share of enterprises struggling with late payments returned to 2019 levels, marking the sharpest rise in the past five years. Payment periods for Business to Business (B2B) transactions saw a marked deterioration, while Government to Business (G2B) transactions showed a smaller increase but continue to pose challenges. Adding to these worrying figures is the fact that larger companies remain among the least likely to pay on time, exacerbating pressures on smaller businesses that often lack the financial resilience to cope with payment delays. This year’s report also delves into the negative impacts of late payments on access to external finance and firms’ chances to succeed in intra-EU cross-border trade.
During this webinar, the EU Payment Observatory will present the key findings from its second Annual Report. The presentation will be followed by a panel debate, bringing together experts to discuss the implications of late payments and explore strategies to address this growing challenge for the competitiveness of the EU and its businesses
The EU Observatory of Payments in Commercial Transactions (EU Payment Observatory) – An initiative of the European Commission; service contract EISMEA/2022/OP/0010. The information and views set out in relation to this event are those of the authors and do not necessarily reflect the official opinion of EISMEA or the European Commission. Neither EISMEA, nor the European Union institutions and bodies or any person or organisation acting on their behalf may be held responsible for the use which might be made of the information contained therein.
