Swedish companies increasingly finding it hard to get paid on time

Monday, 07 May 2012
Late and non-payment of bills is a growing problem for Swedish companies. Last year companies in Sweden were forced to write off debts worth some Skr75 billion, according to media reports.

Intrum Justitia, a company that leads in debt collection in Sweden has interviewed 8000 entrepreneurs and business owners or top managers and 45 percent say they have liquidity problems due to late payments. That is an increase of 45 percent from a year ago.

Small businesses are the hardest hit by defaults, according to the Intrum survey. Companies with fewer than 19 employees wrote off an average of 2.4 percent of all debt which is more than twice as much as large enterprises.

Confidence in banks' ability to assist companies with the financial support has declined sharply. 30 percent of companies in Sweden do not think they will be able to have the support of banks, compared with 16 percent last year.
By Scancomark.se Team

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