London Payment Practices See Slight Improvement: Average Score Rises to 89.3 in 2021

The Comparison

Here's a snapshot of payment practices in London based on our analysis of 1,000 companies in both years:

• 2020: The average payment score across the sample of 1,000 companies stood at 87.1 out of 100.
• 2021: The average payment score for the same sample size reached 89.3 out of 100.

What This Means

The data reveals a modest improvement in payment performance from 2020 to 2021, although the 2.2-point increase suggests only a marginal shift in overall payment behaviour across London's businesses. This small gain indicates that while some companies may have enhanced their payment processes, widespread, transformative changes are not evident within this specific period and dataset. Tools like this late payment calculator may help businesses manage specific instances of late payments.

One-line summary: London companies saw a slight improvement in payment practices, with average scores rising from 87.1 in 2020 to 89.3 in 2021.