Poland: Businesses blocked by unpaid invoices, survey shows
As many as 60% of Polish companies in the pandemic complain that their contractors do not pay on time, the Warsaw Business Journal reports.
In addition, 44% points out that the recipients in the last three months have not paid at all for the goods or services they have received, according to the 8th edition of the KoronaBilans SME survey of the National Debt Register (KRD).
The average delay time is usually up to a month. Waiting for money prevents companies from paying off their own liabilities. Those that record slippage in payment must wait for the partner to receive money from their contractors and then make the transfer (41% of indications).
Other reasons for delays or non-payment from recipients include the difficult situation of the company in the pandemic (36%), a decrease in sales and orders (28%), and other priorities such as salaries for employees (8%).
As much as 38% of entrepreneurs estimate that now delays occur with the same frequency as three months ago, and 12% of them claim more often. At the same t ime, more than half believe that the time of delay in payment is the same as before the pandemic.
More than half of entrepreneurs indicated that invoices unpaid by contractors on time constitute less than 10% of the value of all issued documents. Only 5% of companies said it is over 50% of invoices. 43% of entrepreneurs experiencing late payments begin collection within the first month from the expiry of the deadline indicated on the invoice.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.