North East Payment Practices Saw Marginal Improvement: 58.9 to 60.2 in One Year

The Comparison

• 2020: Data from 128 companies in the North East region showed an average payment practices score of 58.9 out of 100.
• 2021: An analysis of 136 companies revealed a slightly improved average payment practices score of 60.2 out of 100.

What This Means

The North East's payment performance demonstrated a small but positive shift between 2020 and 2021. While the increase of 1.3 points suggests progress, it's a relatively modest improvement in payment culture and efficiency. Businesses struggling with late payments can use a late payment calculator to estimate charges and interest applicable.

One-line summary: The average payment score in the North East rose by a small margin, from 58.9 to 60.2, based on data from 128 and 136 companies respectively.