Wales Payment Trends: 2021 vs 2022
Welsh Payment Performance: Slight Improvement Seen in 2022, Average Score Rises by 2 Points
The Comparison
- 2021: A study of 96 Welsh companies yielded an average payment performance score of 62.8 out of 100.
- 2022: The same study, focusing on 85 companies, showed an improved average payment performance score of 64.8 out of 100.
What This Means
While the average payment performance score increased, the change of 2 points is marginal, suggesting a modest improvement in payment practices amongst the surveyed companies in Wales. The reduction in the number of companies included in the sample between the two years could introduce a skew in the results, depending on the sector or size of the removed companies. Businesses struggling with late payments can use tools like this late payment calculator to understand potential financial impacts.
One-line summary: In 2022, Welsh companies averaged 64.8/100 on payment performance, up from 62.8/100 across a different sample in 2021.
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