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B2B payment defaults in Western Europe remain significant. This is expected to slow the still weak economic recovery, particularly of the Eurozone, and keep insolvency rates well above 2007 levels.

Respondents in Denmark are the most inclined to use trade credit of all the countries surveyed in Western Europe. 70.5% of the total value of their domestic B2B sales is transacted on credit terms.

31% of survey respondents in Switzerland, compared to 24% in Western Europe overall, consider cost containment to be one of the greatest challenges to business profitability in 2015.

Late payment of domestic and foreign B2B invoices is reflected in the 52 day average DSO figure of French survey respondents (nearly two weeks longer than two years ago).

The 58 day average DSO in Spain appears to be heavily impacted by high delinquency rates. These average 10% of the value of B2B receivables, mainly on the domestic market.

The payment default environment observed in Great Britain suggests businesses are making a strong effort to improve business profitability by managing their receivables portfolios more efficiently.

Consistent with Western Europe overall, one in four survey respondents in Belgium consider cost containment to be one of the biggest challenges to business profitability in 2015.

The strong focus on protection of exports from the risk of payment default by customers comes as no surprise for the Netherlands, whose GDP growth is heavily dependent on international trade.

24% of survey respondents in Austria were concerned about maintaining sufficient cash flow levels. They consider this as one of the greatest challenges to business profitability in 2015.

28% of the respondents in Ireland, compared to 18% in Western Europe, reported that maintaining adequate cash flow is one of the biggest challenges they will be facing in 2015.