B2B payment practices trends, Greece 2024

Key takeaways from the report for Greece 

The 2024 Payment Practices Barometer survey for Greece was conducted between the end of Q1 and the beginning of Q2 2024. The findings should therefore be viewed with this in mind.

Deteriorated B2B payment behaviour impacts business financial stability

• Trade credit continues to play a vital role in facilitating B2B trade for Greek companies across all sectors of our survey, being used to stimulate sales and improve cashflow. 56% of all B2B sales are currently being transacted on credit, a steady trend from the previous year.
   
• Businesses in the Greek steel/metals sector tell us they leverage trade credit to encourage repeat purchases from their B2B customers. In the consumer durables industry the
  primary factor is to maintain a competitive edge and build long-term customer relationships. There is a similar objective in the electronics/ICT sector.

Cybersecurity and insolvency risk prompt widespread worry

• A widespread concern among companies in Greece is the cybersecurity threat to data integrity and confidentiality which could affect business operations. This is both a
  short-term and long-term anxiety across all sectors, along with the impact of environmental regulations.
   
• Customer acquisition challenges are a long-term concern for steel/metals companies in Greece, who also worry about the trend of economic conditions that could be a risk to
  future growth. The consumer durables sector say operational challenges are a major long-term anxiety, while the electronics/ICT industry has a specific concern about sustainability issues.

The Atradius Payment Practices Barometer is an annual survey of business-to-business (B2B) payment practices in markets across the world. Its findings can give valuable insights into the current dynamics of corporate payment behaviour in B2B trade. It can also help companies doing business, or planning to do so, in the markets polled to identify emerging future trends in the payment practices of B2B customers. 

Interested in finding out more? 

For a complete overview of the 2024 survey results for Greece and Western Europe, please download the full reports available in the related documents section below. 

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