London Payment Practices Show Minor Improvement: Average Score Rises from 89.0 to 90.5

The Comparison

• 2023: A survey of 1,000 London-based companies revealed an average payment practices score of 89.0 out of 100.
• 2024: The same survey parameters – 1,000 London-based companies – generated an average payment practices score of 90.5 out of 100.

What This Means

While an increase of 1.4 points suggests a slight improvement in adherence to payment terms among London businesses, this marginal shift indicates that significant challenges in timely payments persist. Companies still face the pressures of managing cash flow and maintaining positive supplier relationships, as evidenced by the ongoing need for resources like a late payment calculator to address potential late payment issues.

One-line summary: London payment practices improved slightly, moving from an average score of 89.0 in 2023 to 90.5 in 2024.