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South West Payment Practices Report 2023

•By PaymentCheck•Reports

South West Businesses Beat UK Payment Average by a Wide Margin, But Some Laggards Drag Down the Score

The Numbers

  • Companies analysed: 281
  • Average PaymentCheck Score: 69.5/100
  • UK average: 50.0/100
  • South West's lead over the UK average: 19.5 points
  • Top PaymentCheck Score: 100/100 (achieved by two companies)
  • Lowest PaymentCheck Score: 20.05/100

What Stands Out

The South West's average payment performance is significantly higher than the national average, which suggests a potentially stronger business culture around prompt payments in the region. However, a gulf exists, with some companies achieving perfect scores while others languish far below acceptable levels, indicating inconsistent practices.

Best Payers

These companies demonstrate excellent payment practices. DEREK RAPHAEL (HOLDINGS) LIMITED and DEREK RAPHAEL & COMPANY LIMITED both achieved a perfect 100/100. NASA UMBRELLA LTD followed closely with 99.2/100. LONDON & COUNTRY MORTGAGES LIMITED scored 98.8/100, and THE FIRST FEDERATION TRUST rounds out the top five with 98.4/100.

Worst Payers

At the other end of the spectrum, these companies' payment performance leaves much to be desired. NOV DOWNHOLE EURASIA LIMITED sits at the bottom with a score of 20.05/100. DKH RETAIL LIMITED (20.84/100), CORIN LIMITED (20.85/100), KERRY INGREDIENTS (UK) LIMITED (21.1/100), and KERRY FOODS LIMITED (21.6/100) all scored similarly low, suggesting some kind of systemic failing within these businesses or potentially even the wider Kerry Group. Businesses experiencing late payments from these companies can use a late payment calculator to determine potential interest charges.

Sector Breakdown

Certain sectors in the South West exhibit stronger payment performance than others. Human Resources leads the way with an average PaymentCheck score of 91.4 across 8 companies. Primary Care follows with 87.5 (4 companies), then Professional Services at 86.1 (6 companies). Education (84.4, 18 companies) and Software (84.3, 3 companies) also demonstrated above average scores.

One-line takeaway: Despite the South West outperforming the UK average by 19.5 points, the bottom five payers averaged only 21.09/100, showcasing a stark contrast in payment ethics.