South West Payment Trends: 2023 vs 2024
South West Payment Practices Show Marginal Improvement: Average Score Rises from 69.5 to 70.7
The Comparison
- 2023: 281 companies assessed, achieving an average payment practices score of 69.5 out of 100.
- 2024: 286 companies assessed, with an average payment practices score reaching 70.7 out of 100.
What This Means
While the number of companies assessed increased slightly between 2023 and 2024, the overall improvement in payment performance is marginal. The 1.2-point increase suggests a very slow shift towards better payment behaviour in the South West, although the increase is relatively small. Businesses impacted by late payments can use a late payment calculator to understand the potential financial impact.
In 2024, 286 businesses in the South West had a payment score of 70.7 compared to 281 businesses with 69.5 in 2023.
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