Payment Practices in South West Edge Upward: 2023 Sees Modest Improvement to 69.5/100

The Comparison

Here's a side-by-side look at payment practices in the South West:

• 2022: 297 companies assessed, yielding an average payment score of 67.3 out of 100.
• 2023: 281 companies assessed, resulting in an average payment score of 69.5 out of 100.

The data shows a net decrease of 16 assessed companies.

What This Means

While the average payment score improved, the shift of 2.2 points is relatively small. It suggests a marginal but positive shift in payment behaviour amongst companies analysed in the South West, though the decline in participating companies is noteworthy. For companies dealing with late payments, calculating the potential impact using a late payment calculator may provide useful insights.

In a nutshell: Analysed company payments improved slightly, with the average score going from 67.3/100 (297 companies) to 69.5/100 (281 companies).