South East Payment Trends: 2023 vs 2024
South East Payment Practices Inch Forward: Average Score Rises to 69.9/100 in 2024
The Comparison
- 2023: A survey of 954 companies in the South East yielded an average payment practices score of 68.2/100.
- 2024: The score has risen to 69.9/100, based on an assessment of 963 companies operating in the region.
What This Means
While the South East has shown a slight improvement in payment practices, with the average score increasing by 1.6 points, the region is only negligibly better than it was a year ago. With inflation rising over the last few years, it remains essential that businesses ensure they get paid on time and can consider the use of a late payment calculator to work out any possible compensation for late payments. The slow rate of improvement suggests systemic issues in cashflow are still causing problems for businesses in the area.
One-line summary: The average payment practices score in the South East has moved from 68.2/100 (954 companies) in 2023 to 69.9/100 (963 companies) in 2024.
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