The results of the latest research conducted by the leading Austrian company for receivables and risk management, Acredia, show that as many as 75 percent of Croatian companies have encountered payment delays from customers in the last 12 months, indicating a significant problem with payment delays.
According to the research conducted by Acredia on a sample of 150 Croatian companies, 42 percent of Croatian companies suffered financial damage due to payment delays, leading to the conclusion that payment delays can have serious financial consequences for companies with open receivables. Regarding expectations for the next 12 months, the majority of companies, 74 percent, predict that their clients’ payment behavior will remain the same.
– For companies with open receivables from customers, especially small ones that make up the majority of the Croatian economy, this can potentially lead to liquidity problems, and in the worst case, even bankruptcy – stated Michael Kolb, a member of the management board of Acredia.
In the research, Acredia also collected responses about the main risks faced by Croatian companies. The most significant risk identified was high resource prices, followed by the political situation in the country, high interest rates, and financing challenges. With the entry into the eurozone, the risk of exchange rates has proven to be the smallest business risk that companies may face in the future.
– Risk management is positioned as an imperative for successful business operations as it helps companies respond more quickly to changes and adapt to new business conditions, which will ultimately help them achieve a competitive advantage and ensure business liquidity, even in times of crisis – comments Kolb.
