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East Midlands Payment Practices Report 2023

•By PaymentCheck•Reports

East Midlands Leads UK in Payment Performance, But Wide Disparities Persist

The Numbers

  • Companies analysed: 288
  • Average PaymentCheck Score for East Midlands: 62.3/100
  • UK Average PaymentCheck Score: 50.0/100
  • East Midlands Average above UK Average: 12.3 points

What Stands Out

The East Midlands displays a considerably higher average payment performance than the rest of the UK, yet the extreme range between the top and bottom payers underscores significant inconsistencies within the region. A few sectors, like Software, are performing exceptionally well, indicating potential sector-specific best practices or economic advantages.

Best Payers

Several companies in the East Midlands demonstrate exemplary payment practices, achieving near-perfect scores:

  1. TRAVIS PERKINS (PROPERTIES) LIMITED - 100/100
  2. INTERFLORA BRITISH UNIT - 100/100
  3. EXPERIAN TECHNOLOGY LIMITED - 100/100
  4. HUNTER DOUGLAS UK RETAIL LIMITED - 99.2/100
  5. PATHFINDER SCHOOLS - 98.7/100

These companies, spanning property, floristry, technology, retail, and education, show that prompt payment isn't confined to a single industry in the region.

Worst Payers

On the other end of the spectrum, some businesses are lagging significantly:

  1. PTS GROUP LIMITED - 12/100
  2. ALSTOM ENGINEERING AND SERVICES LIMITED - 16.03/100
  3. BELFIELD FURNISHINGS LIMITED - 17.93/100
  4. CEVA LOGISTICS LIMITED - 19.1/100
  5. PORK FARMS CASPIAN LIMITED - 19.55/100

These low scores suggest potential cash flow issues or problematic payment policies requiring attention.

Sector Breakdown

The data reveals considerable disparity between sectors:

  • Software: 92.2 avg (2 companies)
  • Financial Services: 87.7 avg (11 companies)
  • Hardware: 85.7 avg (1 companies)
  • Information Technology: 83.5 avg (1 companies)
  • Travel And Transportation: 83.2 avg (4 companies)

While Software and Financial Services lead, the very small sample sizes of some sectors (Hardware, Information Technology) render their averages less statistically meaningful. The superior performance of the Financial Services sector may reflect greater regulatory pressure or financial stability within the region.

If you're experiencing late payments, use this late payment calculator to work out how much you're owed.

Although the East Midlands surpasses the UK average by 12.3 points with a PaymentCheck score of 62.3/100, the performance range, extending from 12/100 to 100/100, signals that payment behaviour is far from uniform across the region.