North West Payment Trends: 2022 vs 2023
North West Payment Practices See Near-Stagnant Improvement: Average Score Rises Fractionally From 65.4 to 65.5
The Comparison
Here's a snapshot of payment performance in the North West of England:
- 2022: Analysed across 458 companies, the average payment performance score was 65.4 out of 100.
- 2023: The data set expanded to 476 companies, revealing a marginal increase to an average score of 65.5 out of 100.
What This Means
While the number of companies assessed increased, the improvement in average payment score was minimal, indicating a virtual standstill in payment performance across the North West. The region has seen a 0.1 point improvement which does not present a significant positive trend for North West businesses receiving payments. Businesses facing delayed payments may find value in using a late payment calculator to understand their options.
In Summary: In 2022, 458 North West companies averaged a payment score of 65.4; in 2023, 476 companies averaged 65.5, showing negligible progress.
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