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South West Payment Practices Report 2022

•By PaymentCheck•Reports

South West Businesses Put the Rest of the UK to Shame on Payments

The Numbers

  • Companies analysed: 297
  • Average PaymentCheck Score: 67.3/100
  • UK average: 50.0/100
  • South West lead over UK average: 17.3 points
  • Top PaymentCheck Score: 99.2/100 (NASA UMBRELLA LTD)
  • Lowest PaymentCheck Score: 18.15/100 (NOV DOWNHOLE EURASIA LIMITED)
  • Financial Services Sector Average: 85.9/100 (16 companies)

What Stands Out

The South West’s average payment score of 67.3/100 trounces the UK average by a significant margin, suggesting a stronger payment culture in the region. While the top payers showcase near-perfect performance, the disparity with the bottom-ranked companies is concerning.

Best Payers

These companies are leading the way in prompt payments:

  1. NASA UMBRELLA LTD - 99.2/100. It's not rocket science, but they're clearly getting invoices paid.
  2. THE FIRST FEDERATION TRUST - 98.8/100. Demonstrating strong financial responsibility.
  3. THE GURKHA WELFARE TRUST - 98.4/100. Commendable commitment to fair payment practices.
  4. CURTIS BANKS LIMITED - 98.1/100. Consistently processing payments in a timely fashion.
  5. LONDON & COUNTRY MORTGAGES LIMITED - 97.6/100. A solid performance in the financial sector.

Worst Payers

These companies need to improve their payment practices:

  1. NOV DOWNHOLE EURASIA LIMITED - 18.15/100. A seriously low score indicates major payment issues.
  2. C-RETAIL LIMITED - 18.86/100. Underperforming when it comes to paying suppliers.
  3. NOKIA UK LIMITED - 19.1/100. Despite being a large organisation, their score suggests room for improvement.
  4. KERRY INGREDIENTS (UK) LIMITED - 20.8/100. Falling significantly below the average.
  5. CORIN LIMITED - 22.8/100. Needs to re-evaluate payment processes.

Sector Breakdown

The Financial Services sector leads the way with an impressive 85.9/100 average, showcasing responsible payment habits. Other sectors with high scores include Human Resources with 85.7/100 and Education with 83.7/100, suggesting a common commitment to timely payments.

For suppliers facing late payments, check out this late payment calculator to understand your rights.

Takeaway: Although the South West outperforms the UK average by 17.3 points, the gap of 81.05 points between the highest and lowest paying companies shows a considerable inconsistency in payment practices across the region.