Around 70% of companies in Slovakia report a worsening of payment practices, with just over four in five B2B invoices currently overdue.
Key takeaways from the report for Slovakia
The 2024 Payment Practices Barometer survey for Slovakia was conducted between the end of Q1 and the beginning of Q2 2024. The findings should therefore be viewed with this in mind.
Risk averse strategy keeps B2B trade on credit steady
- 70% of companies in Slovakia report a deterioration in B2B payment practices, with around four in five invoices overdue. Bad debts now affect 5% of all B2B sales on credit, rising to more than 10% in the construction industry.
- In response to this surge in late payments, 40% of Slovakian businesses tell us they delay payments to their own suppliers, risking a domino effect through industries.
They also defer investment plans and delay paying bills and/or staff.
Wide range of worries prompts cautious outlook
- The most pressing concern for businesses in Slovakia across all sectors of our survey is financial constraints, including a lack of capital due to problems in accessing finance.
This is compounded by anxiety about the health of the domestic economy.
- Another widespread worry is about geopolitical risks and their impact on global operations. This is particularly felt in the construction sector, which also has concerns about supply chain disruptions and insufficient production capacity.
The Atradius Payment Practices Barometer is an annual survey of business-to-business (B2B) payment practices in markets across the world. Its findings can give valuable insights into the current dynamics of corporate payment behaviour in B2B trade. It can also help companies doing business, or planning to do so, in the markets polled to identify emerging future trends in the payment practices of B2B customers.
Interested in finding out more?
For a complete overview of the 2024 survey results for Slovakia and Central and Eastern Europe, please download the full reports available in the related documents section below.
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