Lowest risk doing business in Denmark and Germany
Does your business accept orders from abroad? Make a habit of checking the country code before sending goods. There are significant differences in how companies around the world meet their payments.
The data collection company Cribis D&B has published a report showing the degree to which companies in 16 European and 6 non-European countries are paying their bills on time.
Denmark in the lead
Denmark is at the top of the list with 87.6 per cent of its companies paying by the due dates, while only 0.1 per cent of Danish companies had payments overdue by more than 90 days. Denmark’s largest trading partner, Germany, is in 2nd place with 75.3 per cent of businesses paying on time, and Taiwan ranks 3rd with 74.5 per cent.
Highest risk in Portugal
Portugal received the lowest results in the report. Only 16.5 per cent of Portuguese companies were found to be paying their bills on time and in 12.8 per cent of the cases, more than 90 days had passed before the payments were received. The UK came in at 2nd to last place with only 28.7 per cent, and 3rd to last was Poland with 30.5 per cent of its businesses paying on time.
Source: Michael Duelund, Exchange DK.
The percentage of companies paying on time:
* Average of the 16 European countries.
Source: Payment Study, Cribis D&B.
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