Payment practices in France continue to deteriorate. Our latest France Corporate Payment Survey reveals that 86 per cent of companies are affected by late payments, fueling a persistent rise in insolvencies and putting additional pressure on the labor market.
Granting payment terms remains common practice in France. However, among comparable countries, only the UK reports a higher proportion of late payments. The trend has worsened over recent years: while 82 per cent of companies experienced delays in 2023, this figure rose to 85 per cent in 2024 and reached 86 per cent in 2025, based on responses from 650 companies.
The average payment delay remains stable at around 40 days, but at a persistently high level. For comparison, companies in Poland wait 46 days on average, in China 65 days, while delays in Germany and the United Kingdom average 32 days.
This environment is having an increasingly negative impact on SMEs and micro-enterprises. Fifty-five percent of micro-businesses report significant or critical consequences for their cash flow. The figure is 39 per cent for SMEs and 26 per cent for medium-sized and large companies. These proportions have been rising steadily since 2023, and 42 per cent of respondents attribute payment delays to their customers’ financial difficulties.
Bankruptcies lead to a debt burden and unemployment
The continued deterioration in payment behavior in 2025 has also led to a further increase in business insolvencies. This upward trend remains clearly visible: since the end of 2023, insolvency levels have been significantly higher than before the COVID-19 pandemic. So far this year, the number of insolvencies has increased by 4 per cent compared to 2024 and by 36 per cent compared to 2019. Consequently, total supplier debt has reached a record high of 3.4 billion euros, while more than 160,000 jobs were affected between January and July 2025 alone — an unprecedented impact on the labor market.
Companies express growing concern about France’s domestic environment
When asked about future payment behavior, 45 per cent of companies expect the situation to remain stable, while one third anticipate more frequent delays. Regarding the broader economic outlook, the majority of respondents foresee either a deterioration or, at best, a stabilization of the economy in France and globally.
The political and social environment in France has now become the main source of concern for businesses. Among the leading risks identified, a notable shift has occurred: while recruitment difficulties topped the list in 2023, they now rank behind raw material prices, slowing global demand, and geopolitical tensions.
Eighty-four per cent of companies report being affected by new US tariffs. A quarter have experienced higher production and delivery costs, while 40 per cent of businesses in the transport, chemical, metal, paper, and automotive sectors have already reduced their margins or plan to do so.
Canada, Switzerland, and China gain ground
Despite a decline since 2023, exporting companies still view France and the European Union as offering the best market opportunities. Almost a quarter also cite the United States, despite ongoing trade tensions. The slight decline in these three key markets has benefited Canada, Switzerland, and especially China.
Export-oriented companies generally display a more optimistic outlook: 31 per cent expect profitability to increase, with the pharmaceutical sector standing out as particularly positive. In contrast, only 22 per cent of companies focused on the domestic market foresee higher profitability. By sector, transport, construction, and tourism companies tend to have a more negative outlook.
In light of these results, companies’ margins and cash flow will remain under pressure, and insolvencies will stay at a high level until 2026
says Bruno De Moura Fernandes, Global Head of Macroeconomic Research.
Switzerland and France share close trade ties
For Switzerland, these developments are of great importance, as France is traditionally one of the country’s most important economic partners, according to experts at the State Secretariat for Economic Affairs (SECO). In terms of direct investments, France ranked sixth in 2024, and with a 5 per cent share of Swiss exports, it held fifth place — ahead of China and the United Kingdom. Imports from France exceeded exports in 2024, accounting for 7 per cent and placing France fifth overall.
Maintaining strong economic relations within Europe could become increasingly crucial amid U.S. trade policies and global tensions. Switzerland, too, is feeling the pressure: while it continues to hold the top A1 rating in the current risk barometer, risks in sectors such as automotive and metal are now considered extremely high.
> Download the full France Corporate Payment behaviour survey 2025 <
