One third of Irish SMEs have written off bad debts over the past 12 months

The average amount lost is €18,543

43% of respondents noticed a deterioration in the length of time it takes for an invoice to be paid

A third of SMEs in Ireland have written off bad debts over the past 12 months, with the average amount lost adding up to €18,543, research from Bibby Financial Services has revealed. According to the financial provider, the bad debts were mainly a result of customer non-payment or insolvency.

The wholesale sector was the most affected, with 43% of businesses saying they had to write off bad debt, followed by the business and professional services sector at 38% and transport, also at 38%.