Events And Venues Payment Trends: 2020 vs 2021
Events and Venues: Payment Practices Improved Marginally, Up 4.6 Points in 2021
The Comparison
- 2020: Data from 127 companies in the events and venues sector yielded an average payment practices score of 58.2 out of 100.
- 2021: Analysis of 139 companies showed a slightly improved average score of 62.8 out of 100.
What This Means
While there was a positive shift in payment practices within the events and venues sector between 2020 and 2021, the 4.6 point increase is indicative of a small improvement. This suggests that sector-wide changes in payment efficiency were limited, and there is still considerable room for improvement to ensure more timely payments to businesses in the sector. Unpaid invoices can cause cashflow issues, and this late payment calculator can help you understand the cost of delayed payments.
In 2021, the average payment practices score for 139 companies was 62.8 out of 100, compared to 58.2 for 127 companies in 2020.
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