Europe takes longer to pay British exporters than any other region in the world, according to a new survey carried out by credit insurer NCM.
The study of around 900 exporters showed that 37% of businesses experienced a delay in payment when trading with the continent, compared with 15% for North America.
Italy, France, Greece and Spain were the worst late-payment offenders.
The Cardiff-based insurer's survey also had interesting findings for the single currency, showing that 48% of firms now have a policy for dealing with the euro, although over half believe its impact on business will only be small.
Meanwhile Government support did not rate well, with 87% believing it to be either average or poor. Banks rated better, however, with 59% of firms saying they believed their requirements were being met.
Eighty-two per cent of insurers reported credit protection to be the main reason for exporters to hold an insurance policy, though according to NCM only 38% of exporters actually use purchased credit insurance.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
