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South East Payment Practices Report 2022

•By PaymentCheck•Reports

South East Businesses Crush UK Average on Payments, But Disparities Remain

The Numbers

  • Companies Analysed: 936
  • Average PaymentCheck Score: 67.3/100
  • UK Average PaymentCheck Score: 50.0/100
  • South East Advantage: 17.3 points above UK average
  • Top 5 Payers Average Score: 100/100
  • Bottom 5 Payers Average Score: 11.7/100
  • Financial Services Average Score: 84.0 (71 companies)
  • Human Resources Average Score: 83.9 (12 companies)
  • Education Average Score: 79.5 (45 companies)
  • Care Services Average Score: 78.5 (17 companies)
  • Energy Average Score: 75.7 (27 companies)

What Stands Out

While the South East boasts a significantly higher average payment score than the rest of the UK, the gulf between the best and worst payers is stark. The Financial Services sector leads the way, but its dominance could be because it has the most companies surveyed (71), which is far more than Human Resources in second place (12).

Best Payers

These five companies earned a perfect 100/100 PaymentCheck Score, indicating exemplary payment practices:

  1. INTERBAY ML, LTD
  2. CENTRICA LNG UK LIMITED
  3. PIONEER SHIPPING LIMITED
  4. DYNO-ROD LIMITED
  5. BIDCONNECTER LIMITED

It's worth noting that achieving a perfect score isn't necessarily indicative of a specific industry, as the list is quite diverse.

Worst Payers

These companies demonstrate concerning payment behaviours, with scores hovering just above 10/100. Payment practices for these companies may cause stress for their suppliers:

  1. EVIOSYS PACKAGING AEROSOLS UK LIMITED - 10.3/100
  2. ABSOLUTELY CATERING LIMITED - 10.4/100
  3. PRINCIPAL CATERING CONSULTANTS LIMITED - 11.2/100
  4. PUBLIC RESTAURANT PARTNER LIMITED - 13/100
  5. VACHERIN LIMITED - 13.6/100

The prevalence of catering companies on this list suggests potential systemic issues within that sector in the South East. If late payments are impacting your business, late payment calculator can help you work out what you're owed.

Sector Breakdown

The Financial Services sector has the highest average PaymentCheck score at 84.0, followed closely by Human Resources at 83.9. Education, Care Services and Energy trail behind with scores of 79.5, 78.5, and 75.7 respectively. The wide divergence suggests some sectors are prioritising timely payments more effectively than others.

While South East businesses overall score 17.3 points above the UK average, the bottom five payers' average score of just 11.7 highlights the need for continued improvement and transparency in payment practices.