Late payments are one of the most common risks for companies. Last year, more than one business out of two had to deal with late payments. One in three companies had already to deal with insolvent customers. The economic crisis linked to Covid-19 will just worsen the situation. Late payments and defaults of payment resulting from the Coronavirus crisis will have a snowball effect more than ever. Our economists forecast a 10% increase of insolvencies for Belgium (a record number of more than 23,000 bankruptcies by the end of 2021) and a 31% increase for the Grand Duchy of Luxembourg.
The impact of the Covid-19 crisis is unprecedented; prevent and cure as much as possible. This is why we propose you 5 tips to improve the collection of your unpaid invoices.