Foreign Business Gods cut down a notch
Estonian debt collection companies are finding that their work involves more and more companies owned by foreign citizens. The collectors say the deadbeat foreigners often don’t pay either due to misunderstandings or “just plain audacity.” Part of the “misunderstanding” (a generous term) may stem from different payment customs. In Estonia, the custom is to pay bills quickly (often only a week after invoice receipt), rather than the typical 30-day period in business cultures like the United States. Experts say part of the problem is foreigners believing it is easy to do business in Estonia and winding up in danger of bankruptcy.