Late payments causing Belgian companies to go bust

8th October 2009, Comments 0 comments

Research has shown that more and more Belgian companies are waiting longer to pay each other's bills.

The survey was carried out by Graydon, a company archiving the number of businesses that go bust.

Graydon fears that late payments could fuel the number of new bankruptcies. A record number of Belgian companies went bust in September. 

Eric Van den Broele of Graydon says that one in eight invoices remains unpaid after 90 days. "This is incredibly long and companies are getting into difficulty," he said.

As for government departments, payments are now being made much more promptly following criticism from the authorities. Since the beginning of the year the authorities are being a lot more punctual in their payments.

Seventy-one percent of bills that the authorities receive are now paid on time.

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