B2B payment practices trends, Singapore 2024

付款习惯

  • 新加坡
  • 化学/制药,
  • 建筑,
  • 电子/计算机技术

Late payments from B2B customers are increasingly becoming a major concern across different industries in Singapore.

The 2024 Payment Practices Barometer survey for Singapore was conducted during Q3 2024, and findings should therefore be viewed with this in mind.

Key takeaways from the report for Singapore

Steady payment patterns hide credit risk challenges for Singapore companies

  • The overall payment landscape is further complicated by more companies experiencing longer payment cycles than shorter ones. These findings indicate a troubling trend in the business environment. It is clear that late payments are increasingly becoming a major concern across different industries in Singapore. They now impact an average 54% of credit sales to B2B customers, putting a strain on cashflow and financial stability for many companies.
     
  • To manage cashflow gaps many Singapore businesses look to external financing, including invoice discounting, bank loans, and trading on credit. Days Sales Outstanding (DSO) has remained steady for 60% of companies, which indicates that receivables are not being converted into cash quickly
    enough.

Pessimism about insolvency risk among Singapore companies

  • There is a divided mood as well about the trends for insolvency risk in the year ahead. 51% of companies in Singapore, especially in the construction sector, anticipate business insolvencies among their customers to worsen. Other industries such as chemicals, however, are more optimistic and anticipate a positive trend.
     
  • Uncertainty about the impact of shifting domestic and global economic conditions is the major concern looking ahead for companies in Singapore. The construction sector has particular anxiety about rising costs, supply chain
    disruptions and market volatility.

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 Singapore, please download the full report available in the related documents section below. The regional report for Asia is also available for download in the section below.

All content on this page is subject to our Disclaimer, available here.

免责声明

Each publication available on or from our websites, such as, but not limited to webpages, reports, articles, publications, tips and helpful content, trading briefs, infographics, videos (each a “Publication”) is provided for information purposes only and is not intended as a recommendation or advice as to particular transactions, investments or strategies in any way to any reader. Readers must make their own independent decisions, commercial or otherwise, regarding the information provided. While we have made every attempt to ensure that the information contained in any Publication has been obtained from reliable sources, Atradius is not responsible for any errors or omissions, or for the results obtained from the use of this information. All information in any Publication is provided ’as is’, with no guarantee of completeness, accuracy, timeliness or of the results obtained from its use, and without warranty of any kind, express or implied. In no event will Atradius, its related partnerships or corporations, or the partners, agents or employees thereof, be liable to you or anyone else for any decision made or action taken in reliance on the information in any Publication, or for any loss of opportunity, loss of profit, loss of production, loss of business or indirect losses, special or similar damages of any kind, even if advised of the possibility of such losses or damages.