An alarming survey from credit insurance giant Atradius.

The 14-country survey found that a vast majority of companies, particularly those in the US, were expecting an impact down the track than what had already been experienced. In other words, the worst is still to come.

According to the survey, seven out of 10 US companies (68 per cent) had been hit by the credit crisis. The effects were also being felt as far afield as Italy (58 per cent), the UK (46 per cent), Spain (44 per cent), and Australia/New Zealand (43 per cent).

Scary to think this we're not near the end yet. And the global impact could be immense.