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Northern Ireland Payment Practices Report 2024

•By PaymentCheck•Reports

Northern Ireland Payment Practices Outshine UK Average, But Cracks Appear

A deep dive into payment practices in Northern Ireland for 2024 reveals a surprisingly strong performance compared to the UK average, but with significant disparities between companies and sectors. While some businesses are setting a gold standard for prompt payment, others are lagging considerably, potentially squeezing suppliers.

The Numbers

  • Companies analysed: 66
  • Average PaymentCheck Score: 67.2/100
  • UK average PaymentCheck Score: 50.0/100 (Northern Ireland is 17.2 points higher)

What Stands Out

The spread between the best and worst payers is alarmingly wide, suggesting a lack of consistent payment culture across Northern Ireland's business community. While the average is healthy, it masks the struggles suppliers likely face when dealing with the lowest-scoring companies.

Best Payers

These companies are leading the way with near-perfect payment scores, showing they prioritise timely payments to their suppliers:

  1. BRS GOLF LIMITED - 99.4/100
  2. N.I.I.B. GROUP LIMITED - 98.3/100
  3. ALLSTATE NORTHERN IRELAND LIMITED - 97.4/100
  4. NORTHERN IRELAND WATER LIMITED - 96.2/100
  5. POWER NI ENERGY LIMITED - 95/100

These top performers span diverse sectors, from golf technology to utilities, which suggests prompt payment isn't sector-specific, but a deliberate business choice.

Worst Payers

At the other end of the spectrum, these companies are struggling to meet payment obligations, potentially creating cash flow issues for their suppliers:

  1. DIAGEO GLOBAL SUPPLY IBC LIMITED - 24.1/100
  2. SHORT BROTHERS PLC - 27.53/100
  3. THOMPSON AERO SEATING LIMITED - 28.1/100
  4. WHITEMOUNTAIN QUARRIES LTD - 31.63/100
  5. TEREX GB LIMITED - 32.7/100

It's worth noting that these bottom payers are a mixture of manufacturers and suppliers, highlighting the challenges in various sectors.

Sector Breakdown

While most sectors have only a few data points, some clear trends emerge:

  • Hardware: 90.5 avg (1 company)
  • Software: 90.3 avg (4 companies)
  • Financial Services: 89.5 avg (3 companies)
  • Environment: 86.1 avg (3 companies)
  • Energy: 82.1 avg (7 companies)

Software, financial services, and environment all come in above 85.0, suggesting a generally faster-paying profile in these areas, at least amongst the businesses reviewed. However, the number of companies is very small.

If you are experiencing late payments from businesses in Northern Ireland, you can use this late payment calculator to determine potential interest and compensation.

Takeaway: While Northern Ireland's average payment score of 67.2/100 surpasses the UK's 50.0/100, the 75.3 point gap between the top and bottom payers indicates significant inconsistencies in payment practices across the region.