North West Payment Trends: 2020 vs 2021
North West Payment Performance Sees Minor Improvement: 2020 vs. 2021
The Comparison
- 2020: 464 companies surveyed, yielding an average payment performance score of 62.2 out of 100.
- 2021: 492 companies surveyed, resulting in an average payment performance score of 65.5 out of 100.
What This Means
While the North West witnessed a positive shift in payment practices between 2020 and 2021, the overall improvement of 3.2 points suggests a modest, rather than radical, advancement. The survey's increased sample size of 492 companies in 2021, compared to 464 in 2020, possibly offers a more representative assessment of payment behaviours within the region. Consider using this late payment calculator to check late payment interest on invoices.
Summary: Payment performance in the North West improved slightly, moving from an average score of 62.2 across 464 companies in 2020 to 65.5 across 492 companies in 2021.
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