According to a new joint report from Cebr and iwoca, the number of UK suppliers offering repayment terms over sixty days to customers has surged from just 7% of suppliers in 2020 to 17% in 2024. In addition, 84% of suppliers say they have to adjust payment terms for business customers, nearly twice (46%) the rate four years ago and 75% of suppliers offer longer repayment terms for loyal or large customers or bigger orders. The report also found that outstanding payments in 2024 are more common than at the height of the pandemic, with 48% of UK suppliers now owed more than £10,000 from their trade customers, up 13% from 2020 levels. However, just 58% of suppliers offering flexible payment terms conduct credit checks. To read iwoca’s news release, go to https://www.iwoca.co.uk/iwocapay/trade-credit-and-digitisation-report.