The North East is significantly outperforming the rest of the UK in payment practices. While a single software company skews the sector averages, it's notable that the best payers include diverse industries from travel to student loans.
The region's top payers demonstrate a commitment to timely payments, potentially fostering stronger supplier relationships. Here are the top 5 performers, all scoring above 96/100:
A significant gap exists between the best and worst performers in the region. Several companies are lagging behind, potentially impacting their suppliers' cash flow:
Sector averages reveal varying payment performance across industries in the North East:
The software sector shows exceptional performance but with only one company accounted for, general conclusions about the sector are impossible to draw. It’s worth noting that care services and financial services have relatively high averages, suggesting a possible regional focus on ethical financial practices.
If you are facing late payments, you can use a late payment calculator to determine any potential charges.
While the North East shows an encouraging average PaymentCheck Score of 62.7, the presence of companies scoring below 40 highlights the need for continued improvements in payment practices across all industries.
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