Payment Practices in the North East See Modest Improvement: Average Score Rises by 2.4 Points

The Comparison

• 2022: Analysis of 133 companies in the North East revealed an average payment score of 60.9 out of 100.
• 2023: The same analysis, conducted on 139 companies, showed a slightly improved average payment score of 63.3 out of 100.

What This Means

The data indicates a marginal improvement in payment practices within the North East region. While the increase of 2.4 points represents a positive shift, it suggests that significant changes in payment behaviour are yet to materialise and businesses may still be experiencing cash flow constraints. To calculate the potential impact of late payments on your business, consider using a late payment calculator.

One-line summary: Payment practices in the North East improved slightly, from an average score of 60.9 (133 companies) in 2022 to 63.3 (139 companies) in 2023.