South West Payment Trends: 2020 vs 2021
South West Payment Practices See Marginal Improvement: Up 2.0 Points to 67.4/100 in 2021
The Comparison
- 2020: 293 companies assessed, achieving an average payment score of 65.3 out of 100.
- 2021: 306 companies assessed, with the average payment score rising to 67.4 out of 100.
What This Means
The South West saw a small but positive shift in payment performance between 2020 and 2021, although the 2.0-point increase indicates the underlying challenges of prompt payment persist. The increase in the number of companies assessed suggests either increased participation in payment reporting initiatives or a broader sample set used for the study, but it is unclear if this sample difference has caused any distortion to the data. Companies struggling with late payments can use a late payment calculator to assess the impact on their cash flow.
In brief: The average payment score in the South West rose modestly from 65.3/100 (293 companies) in 2020 to 67.4/100 (306 companies) in 2021.
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