Late payment problems getting worse in Belgium

11th June 2004, Comments 0 comments

11 June 2004, BRUSSELS – The problem of late payment of bills, which causes major headaches for thousands of small business, is getting worse in Belgium, it was reported on Friday.

11 June 2004

BRUSSELS – The problem of late payment of bills, which causes major headaches for thousands of small business, is getting worse in Belgium, it was reported on Friday.

According to a new survey by European debt recovery firm Intrum Justia, the average length of time a Belgian firm must wait for payment of an overdue bill is now 52 days.

The figure puts Belgium well towards the bottom in the European late payment league.

The EU-wide average for overdue payments is 59 days, while Portugal is the undisputed bottom of the class with a whopping three month average delay.

Late payment of bills can cause serious cash-flow problems for small firms and it has even driven some companies out of business.

[Copyright Expatica 2004]

Subject: Belgian news

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