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In the US, revenues for new, emerging product categories are expected to double in 2015 with strong demand for 3D printers, 4K Ultra HD TVs, connected home products, unmanned systems and wearables.

British ICT businesses will face stronger competition from their European peers, mainly due to the strengthening of the pound.

The main strengths of the Polish IT sector are the stable demand, a strong export performance and financial transparency, as the largest IT distributors are listed on the Warsaw Stock Exchange.

As in 2014, the 2015 outlook for the French ICT industry looks reasonably favourable with sales growth expected to increase by 2 %.

In the coming years, the growth of ICT in China is expected to outperform on a regional and global basis.

Global economic growth remains tepid and weaker than expected. A ‘new normal’ of structurally lower growth rates in both advanced and emerging markets has become manifest.

International survey of B2B payment behaviour Survey results for Slovakia

Despite the significant amount of time given B2B customers to pay their invoices, a sizeable proportion of the total value of domestic B2B receivables in Turkey (55.2%) was overdue.

In Hungary, late payment of invoices is reflected in the DSO figure, averaging 80 days. This is significantly above the 59 day average for Eastern Europe.

2015 is expected to be a difficult year for Eastern Europe. This is forecast to place a long-term strain on corporate payment behaviour in many countries in the region.

Respondents in the Czech Republic show a relatively stronger preference for selling on credit to domestic than to foreign B2B customers.

The 80 day average DSO recorded in Poland (and Hungary) is the longest of all the countries surveyed in Eastern Europe.

An agreement curtailing Iran’s nuclear programme in exchange for the lifting of international sanctions could reopen the Iranian economy to Western exporters, creating opportunities but also risks.

33% of survey respondents in Sweden (compared to 20% in Western Europe) consider a fall in demand for their products and services as one of the greatest challenges to business profitability in 2015.

When asked to indicate the greatest challenge to business profitability in 2015 two in five Greek respondents indicated maintaining adequate cash flow and collection of outstanding invoices.

B2B payment defaults in Western Europe remain significant. This is expected to slow the still weak economic recovery, particularly of the Eurozone, and keep insolvency rates well above 2007 levels.

Respondents in Denmark are the most inclined to use trade credit of all the countries surveyed in Western Europe. 70.5% of the total value of their domestic B2B sales is transacted on credit terms.

31% of survey respondents in Switzerland, compared to 24% in Western Europe overall, consider cost containment to be one of the greatest challenges to business profitability in 2015.

The 58 day average DSO in Spain appears to be heavily impacted by high delinquency rates. These average 10% of the value of B2B receivables, mainly on the domestic market.

The payment default environment observed in Great Britain suggests businesses are making a strong effort to improve business profitability by managing their receivables portfolios more efficiently.