According to the annual European Payment Report from Intrum, 34% of businesses suggest that they are more likely to request longer payment terms from suppliers or pay later than agreed, and a further 15% of businesses say they will begin extending payment terms in 2024. Businesses in Spain (20%) are the most likely to ask suppliers for longer payment terms, followed by Italy (19%), Portugal (18%), France (17%) and Denmark (17%). According to Intrum, across Europe, the average business is losing more than a quarter of the working year chasing late payments, and businesses are currently owed €10.5 trillion (30% of total GDP and equivalent to the combined GDP of France, Germany and the UK). To read Intrum’s news release, go to