Creative Sector Payment Performance: Virtually Static, Dropping by a Negligible 0.1 Points Between 2022 and 2023

The Comparison

• 2022: A study of 39 creative companies revealed an average payment performance score of 67.3 out of 100.
• 2023: The subsequent year, analysis of 42 companies showed a marginal decrease in the average score, settling at 67.2 out of 100.

What This Means

The creative sector's payment performance remained essentially unchanged between 2022 and 2023, with a miniscule decrease in the overall score. This suggests that the industry is maintaining, but not improving, on existing payment practices. Businesses struggling with late payments can utilise a late payment calculator to assess the potential impact on their finances.

One-line summary: Despite surveying a larger sample, the creative sector saw a negligible decrease in payment performance, from 67.3 (out of 100) across 39 companies in 2022 to 67.2 across 42 companies in 2023.