BUSINESS IN SHORT

Firms report poorer payment discipline

COMPANIES operating in Slovakia have reported a deterioration in payment discipline by their clients over the past year. The results of a survey by the EOS group and the Institute for Market Surveys Ipsos show that 96 percent of the companies surveyed reported increased problems securing payment, the SITA newswire reported.

COMPANIES operating in Slovakia have reported a deterioration in payment discipline by their clients over the past year. The results of a survey by the EOS group and the Institute for Market Surveys Ipsos show that 96 percent of the companies surveyed reported increased problems securing payment, the SITA newswire reported.

Private individuals in particular, respondents reported, are paying invoices after the due date. The survey showed that only around 60 percent of invoices were settled on time. Corporate clients have slightly better payment discipline: 69 percent settled their liabilities on time.

Complete failure to settle invoices is relatively rare in Slovakia. In the segment of private individuals, approximately 1.4 percent of invoices remain permanently unpaid, and in the segment of corporate clients it is 2.2 percent of invoices. One in two companies expects discipline to worsen in the future.

Two hundred companies with an annual turnover of at least €4 million participated in the survey in Slovakia.


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