B2B payment practices trends Ireland 2024

Payment Practices Barometer

  • Ireland
  • Consumer Durables,
  • Construction,
  • Electronics/ICT

Businesses in Ireland are grappling with customer credit risk challenges, emphasizing the need for robust credit risk management strategies.

Key takeaways from the report for Ireland 

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

Trading on credit declines amid worsening B2B payment practices

  • A 30% decline in B2B sales being made on credit highlights a significant shift to cash transactions among companies in Ireland. There is a difference across sectors, however, with 60% of sales being transacted on credit in the consumer
    durables sector, but just 25% among construction businesses and 40% in the electronics/ICT sector.
     
  • This reduction in the use of trade credit is being complemented by a tightening of payment terms for B2B customers, particularly in the construction sector. There is no change in the electronics/ICT sector, while a slightly more relaxed policy on payment terms is evident with Irish consumer durables companies.

Cybersecurity risks a major concern amid positive outlook

  • The most significant concern for companies across all sectors in Ireland is the threat posed by cybersecurity risks. This is both a short-term and long-term anxiety, which is escalating as businesses integrate digital technologies into their daily operations. Limited growth potential is also a significant worry in the electronics/ICT industry.
     
  • There is also widespread apprehension about the health and stability of the domestic Irish economy, which is casting a shadow over business planning and investment decisions. Construction companies have a particular concern about technological obsolescence and too much reliance on outdated systems.

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 Ireland and Western Europe, please download the full reports available in the related documents section below. 

All content on this page is subject to our Disclaimer, available here

Disclaimer

Each publication available on or from our websites, such as, but not limited to webpages, reports, articles, publications, tips and helpful content, trading briefs, infographics, videos (each a “Publication”) is provided for information purposes only and is not intended as a recommendation or advice as to particular transactions, investments or strategies in any way to any reader. Readers must make their own independent decisions, commercial or otherwise, regarding the information provided. While we have made every attempt to ensure that the information contained in any Publication has been obtained from reliable sources, Atradius is not responsible for any errors or omissions, or for the results obtained from the use of this information. All information in any Publication is provided ’as is’, with no guarantee of completeness, accuracy, timeliness or of the results obtained from its use, and without warranty of any kind, express or implied. In no event will Atradius, its related partnerships or corporations, or the partners, agents or employees thereof, be liable to you or anyone else for any decision made or action taken in reliance on the information in any Publication, or for any loss of opportunity, loss of profit, loss of production, loss of business or indirect losses, special or similar damages of any kind, even if advised of the possibility of such losses or damages.