B2B payment practices trend, Finland 2023


  • Suomi
  • rakennusteollisuus,
  • metalliteollisuus,
  • koneteollisuus

Nearly 40% of businesses in Finland who applied for trade credit from their suppliers said their requests were rejected. This signals a safety-first approach to trading on credit amid bank squeeze.

Key takeaways from the report for Finland

Safety-first approach to trade credit amid bank squeeze

  • Our survey found a highly cautious approach to trading on credit among companies polled in Finland, with an average of just 46% of all B2B sales transacted on credit. The corollary is that 54% of sales were made on a cash basis, and thus free from risk of payment default.
  • The cautious mood was reinforced by the fact that nearly 40% of businesses in Finland who applied for trade credit from their suppliers said their requests were rejected. SMEs in the construction sector did buck this wary trend, however, telling us that 61% of their sales were made on credit

Increasing switch towards strategic credit management as inflation bites

  • The coming 12 months are expected to remain challenging for businesses across various sectors in Finland, with persistent inflation the primary concern given its effect on the purchasing power of households. Rising interest rates, tighter credit conditions and increased commodity prices are also expected to have a negative effect on both domestic and foreign demand.
  • The global economy downturn is a key worry for Finland’s open economy, which is heavily dependent on exports. Geopolitical issues, with the country’s proximity to Russia, are seen as another long-term issue to be faced, along with energy costs

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. 

The 2023 Payment Practices Barometer survey for Finland was conducted between the end of Q1 and the beginning of Q2 2023. Its findings should therefore be viewed with this in mind.

Interested in finding out more?

For a complete overview of the 2023 survey results for Finland and Western Europe, please download the full report available in the related documents section below. The Statistical Appendix to the regional report is also available for download in the section below.

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