East Midlands businesses, on average, demonstrate stronger payment practices compared to the UK as a whole, but the wide range of scores, from 12.8 to 100, indicates significant inconsistency in how suppliers are treated. The high scores among the top payers contrast starkly with the very low scores of the worst, suggesting these bottom-ranked firms should be subject to increased scrutiny and possibly utilize a late payment calculator to minimise the damages.
The top five companies demonstrate a clear commitment to prompt payment, reflected in their scores:
These firms, operating in sectors like packaging, technology, education, retail and finance, set a positive example within the region.
The bottom five companies in the East Midlands have considerable room for improvement, evidenced by their low PaymentCheck scores:
With PaymentCheck scores clustered around 15/100, these companies, operating in sectors like engineering, logistics and manufacturing, potentially strain their relationships with suppliers and may incur late payment fees.
Some sectors perform significantly better than others:
Financial Services in the East Midlands perform relatively well, with an average score of 85.0/100 based on 11 companies; however, these figures are based on a very low number of companies in Software, Air Travel and Sports.
East Midlands companies outperform the UK average by 9.2 points, but the significant disparity between top and bottom payers suggests that regional averages can mask substantial variation in payment practices.
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