France: customer relations set business tone for 2021

France leads region in sourcing credit information directly from customers. France: customer relations set business tone for 2021 Businesses polled in France reported working more closely with B2B customers to develop a proactive approach to credit Introduction France has been severely affected by the COVID-19 virus and in response implemented a  long and stringent lockdown. This has impacted business throughout the country and has  resulted in a strong contraction of GDP. 44% of businesses reported cash flow issues, above the average of 38% for Western Europe as a whole. An interesting trend revealed by the survey is that after the start of the pandemic  businesses in France began using trade credit as a tool to stimulate sales and provide short-term finance to B2B customers. Despite all of this negativity however, businesses polled in France also reported working more closely with customers to develop a proactive approach to credit. Key takeaways from the report Businesses in France target domestic sales with proactive credit policies Credit terms become an important source of short-term finance Late payment surge in France COVID-19 pandemic leads to cash flow issue, as  reported by 44% of respondents in France, compared to 38% in Western Europe. France leads region in sourcing credit information directly from customers. This was highest across the countries surveyed in Western Europe, and well above the 38% average for the region. Interested in getting to know more? For a complete overview of the corporate payment behaviour in France during the COVID-19 pandemic and global recession, please download the complete report. The report gives also insight into the impact of the pandemic-induced economic crisis on the following industries in the country: Agri-food Construction materials Business services Machines Steel-metals Download the full report All content on this page is subject to our Disclaimer, available here.