Half of invoices paid late since Covid outbreak

More than half of invoices in the Netherlands were paid late since the outbreak of the coronavirus pandemic. The number of days that an invoice is unpaid increased the most in the Netherlands, compared to other European companies, credit insurer Atradius said after surveying 2,600 European companies, ANP reports.

About 56 percent of invoices in the Netherlands have been overdue since the start of the pandemic. Before the crisis, about 32 percent of Netherlands invoices were paid late.

Dutch companies told Atradius that they had to wait an average of 25 days longer for invoices to be paid. Despite this, nearly half of them are willing to grant customers longer payment terms than before the coronavirus pandemic.

"It is striking that entrepreneurs choose to extend their payment term, while legislation is on the way to shorten it,' Edwin Kuhlman of Atradius Nederland said to ANP. "By offering more credit, companies hope to increase their competitiveness and boost sales."

To prevent liquidity problems, 40 percent of Dutch companies told Atradius they've paid their own suppliers late.