Payment Practices in Events & Venues Improve Slightly: 2022 Average Score Rises by 3.6 Points

The Comparison

• 2021: A study of 139 companies in the events and venues sector revealed an average payment practices score of 62.8 out of 100.
• 2022: Analysing 128 companies, the average score climbed to 66.4 out of 100, representing an improvement across the sector.

What This Means

While the increase of 3.6 points indicates a positive shift in payment practices within the Events & Venues sector, the modest improvement suggests that significant challenges related to timely payments persist. The sample size being slightly smaller in 2022 might influence the magnitude of the observed improvement, yet the overall trend points towards a marginal, but measurable, advancement. Companies struggling with late payments in this sector can use a late payment calculator to understand the potential impact on their business.

One-line summary: Average payment practice scores increased from 62.8 (139 companies) in 2021 to 66.4 (128 companies) in 2022.