East Midlands Payment Practices Report 2024
East Midlands Leads UK in Payment Performance, But Laggards Drag Down Reputation
The Numbers
- Companies analysed: 307
- Average PaymentCheck Score: 62.0/100
- UK average: 50.0/100
- East Midlands average above UK average: 12.0 points
- Top score: 100/100 (INTERFLORA BRITISH UNIT & EXPERIAN TECHNOLOGY LIMITED)
- Bottom score: 12.1/100 (PTS GROUP LIMITED)
What Stands Out
The East Midlands outshines the national average in payment practices, suggesting a stronger financial health or a greater focus on supplier relationships within the region. However, the disparity between top and bottom performers is stark, indicating significant inconsistency in payment cultures across companies.
Best Payers
The top payers demonstrate exemplary performance, achieving near-perfect scores. These companies are setting a high standard for payment ethics in the region:
- INTERFLORA BRITISH UNIT - 100/100
- EXPERIAN TECHNOLOGY LIMITED - 100/100
- CRONER GROUP LIMITED - 99.6/100
- TRANSFORM TRUST - 99.4/100
- NORTHAMPTONSHIRE PARTNERSHIP HOMES LIMITED - 98.7/100
Worst Payers
The bottom five companies reveal significant issues with payment practices, with scores far below the regional and national average. It is important to note that late payment calculator exists to help businesses manage these issues.
- PTS GROUP LIMITED - 12.1/100
- BELFIELD FURNISHINGS LIMITED - 15.85/100
- SOCOTEC UK LIMITED - 20.9/100
- THE BOOTS COMPANY PLC - 21.62/100
- BOOTS MANAGEMENT SERVICES LIMITED - 21.82/100
Sector Breakdown
Payment performance varies considerably across sectors. The Software sector, admittedly based on a single company's perfect score, leads, while Financial Services (88.3 avg across 13 companies) and Professional Services (84.4 avg across 6 companies) also show strong payment performance. Education, with a larger sample size of 31 companies, sits at a still respectable 78.6.
The East Midlands' average PaymentCheck Score is 24.2 points higher than the lowest individual score, highlighting a substantial gap between the best and worst companies.
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