Northern Ireland Payment Trends: 2023 vs 2024
Northern Ireland Payment Performance: Marginal Improvement as Scores Edge Up 0.4 Points
The Comparison
Here's a snapshot of payment practices in Northern Ireland, comparing 2023 and 2024 based on a study of 66 companies each year:
- 2023: Average payment performance score of 66.8 out of 100, based on data from 66 companies.
- 2024: Average payment performance score of 67.2 out of 100, again based on data from 66 companies.
- Change: An increase of 0.4 points between 2023 and 2024.
What This Means
The data reveals a slight positive shift in payment performance in Northern Ireland, but the improvement of 0.4 points is minimal, suggesting a largely static environment for payment practices. While any progress is welcome, such a small change indicates underlying issues with late payments persist and significant challenges remain. Companies struggling with delayed invoices can use a late payment calculator to understand the potential financial impact.
In 2024, Northern Irish businesses averaged a 67.2/100 payment performance score, only 0.4 points higher than the 66.8/100 average observed in 2023.
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The year-on-year decline of 0.1 points, while statistically insignificant, suggests a stagnation in payment performance