While Wales' overall average is impressive, the extreme disparity between the best and worst payers highlights a serious consistency problem. The top payer, Victim Support, boasts a near-perfect score, while Safran Seats GB languishes near zero, indicating drastically different attitudes towards supplier payments within the Welsh business community.
The top payers in Wales for 2020 demonstrate a strong commitment to prompt payments, significantly contributing to the region's higher-than-average score:
These companies represent a diverse range of industries, from support services to energy and finance, suggesting that prompt payment isn't confined to a specific sector.
The bottom performers, unfortunately, drag down the potential for even better payment practices across Wales:
The consistently low scores among these companies suggest systemic issues related to cash flow management or a deliberate strategy of delayed payments, potentially impacting their suppliers' financial stability. Suppliers struggling with late payments can use a late payment calculator to understand the potential impact.
The data on sector payment performance in Wales is fairly thin, with most sectors represented by only one or two companies:
With such low company counts, drawing meaningful conclusions about sector-wide payment trends is difficult. The Software and Sports sectors appear promising, but a larger sample size is needed for reliable insights.
While Welsh firms, on average, outperformed the UK in payment practices with a score of 63.6/100 versus 50.0/100, the significant range between top and bottom payers indicates a need for broader improvements in payment consistency.
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