South East Payment Trends: 2022 vs 2023
South East Payment Performance Edges Up: 2023 Sees Marginal Improvement
The Comparison
Here's a snapshot of payment performance in the South East:
- Number of Companies Assessed: 2022: 936 companies; 2023: 954 companies
- Average Payment Score (out of 100): 2022: 67.3; 2023: 68.2
What This Means
The slight increase of 0.9 points in the average payment score from 2022 to 2023 represents a marginal, albeit positive, shift in payment behaviour across the South East. While the increase in assessed companies suggests a broadening dataset, the small score change implies that payment practices remain largely consistent year-on-year, with a need for more urgent improvement. Understanding late payment costs can be crucial, use this late payment calculator to assess the impact to your business.
2023 saw 954 companies averaging a 68.2/100 payment score compared to 936 averaging 67.3/100 in 2022.
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