Slovak companies are worst at making payments on time

Slovakia took bottom place among the 17 European countries included in the latest European Payment Practices survey.

Invoices, illustrative stock photoInvoices, illustrative stock photo (Source: Sme)

Every fourth payment (27%) comes to Slovak companies with a delay or not at all, the latest European Payment Practices 2018 survey by EOS KSI finds. This is the highest among all countries in both western and eastern Europe, the SITA newswire wrote on October 24. 3,400 companies from 17 European countries responded to the survey.

SkryťTurn off ads
Article continues after video advertisement
SkryťTurn off ads
Article continues after video advertisement

Slovak firms are thus faced with even worse payment discipline than companies in Romania (26%), with whom Slovakia shared the worst spot last year in this unflattering statistics.

SkryťTurn off ads

On average, businesses in Europe receive 21 percent of their payments overdue or do not at all. In the long run, according to EOS KSI, in the east of Europe it is slightly more (22%) than in the west (19%).

Possible reasons behind

However, Slovak companies have much more problematic payments, falling behind all the other countries that were part of the survey. Payments to companies in Slovakia are overdue both from end-users and customers, according to SITA.

“There may be several reasons why Slovak companies have the biggest problem with payments,” economic manager of EOS KSI Slovensko, Peter Hetteš, told SITA. “For example, our survey has shown that in the long term, they offer slightly longer maturity than average, which may lead to worse payment discipline,” he suggested, adding that it may be connected with the law enforcement as clients simply think that if they don’t pay an invoice, nothing can happen.

SkryťTurn off ads

Who are the winners?

Danes have the best payment discipline, (15 %), followed by Germany, Switzerland and Spain (18 % each), SITA wrote.

The 11th edition of the EOS survey "European Payment Practices" took place in spring 2018, addressing through Kantar TNS polling institute 3,400 experts of 17 European countries, 200 Slovak companies also among them. The other countries included the UK, Spain, France, Austria, Greece, Romania, Russia, Bulgaria, Poland, Hungary, Croatia, Slovenia, Belgium, Switzerland, the Czech Republic and Germany.

Top stories

Cycling routes can be found all around Bratislava.

Weekend: Dust off your bike and cycle along the Morava

Bike rides, creating your own art, the history of Book Month and more.

24. mar
Volkswagen will make all-electric versions of the Porsche Cayenne luxury SUV.

News Digest: Volkswagen Slovakia to produce all-electric luxury SUV

LGBT+ minority could face new difficulties, a suspect is charged in the Daniel Tupý murder case.

24. mar
Filip Toška holding chard in the hydroponic Hausnatura farm.

How a Mayan doomsday prophecy took a Slovak to hi-tech agriculture

Hydroponic farm run out of former telephone exchange.

9. mar
University student Daniel Tupý was murdered in November 2005 in Bratislava.

NAKA charges suspect in Daniel Tupý murder case

Eight out of the ten suspects detained this week have now been released.

24. mar
SkryťClose ad