North American firms face rising insolvency risks despite stable payments

The survey of over 600 companies across the United States, Canada, and Mexico highlights a paradox in the current economic landscape. Although 43% of B2B sales are conducted on credit, firms are increasingly wary of the broader outlook. Overdue invoices currently account for 23% of receivables; however, most are settled within a month, masking the deteriorating financial health of many customers. Roughly one-third of surveyed firms report reduced cash availability, identifying customer liquidity constraints as the primary driver of payment delays.

Silvia Ungaro, Senior Advisor on B2B Payment Trends at Atradius, notes that payment performance and financial confidence are now moving in opposite directions. Many companies appear to be managing immediate pressures rather than overcoming them. Looking toward the coming year, executives rank macroeconomic slowdown, persistent inflation, and high interest rates as the most significant threats to their operations. Gordon Cessford, President of Atradius North America, emphasizes that while businesses remain resilient, the combination of elevated borrowing costs and geopolitical uncertainty is forcing a shift toward more disciplined risk management strategies.