The East Midlands boasts a noticeably better payment culture than the UK overall, with an average score considerably above the national benchmark. However, the disparity between the best and worst payers highlights significant inconsistencies in payment practices within the region.
These companies are setting a high bar for supplier payment, demonstrating a commitment to promptness:
The high scores of these five firms, spanning technology, property, education, and finance, suggest that responsible payment is possible across diverse sectors.
These firms need to seriously re-evaluate their payment practices, as these scores indicate a potential risk for their suppliers' cash flow:
The consistent failure to pay promptly, indicated by scores below 21/100, puts significant strain on suppliers and damages business relationships. If you're experiencing late payments, use this late payment calculator to determine next steps.
Sector averages are available, but the sample sizes of the 'Software' (2 companies) and 'Hardware' (1 company) sectors are too small to derive meaningful insights. The Financial Services sector, with 14 companies and an average score of 83.4/100, demonstrates the highest average score based on a significant number of companies.
Takeaway: Despite a strong regional average, the East Midlands displays stark contrasts, with one company scoring 97.6 points better than the regional average, while another scores 59.6 points below it, exposing a wide gap in payment ethics.
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