Welsh Payment Practices Show Marginal Improvement: Average Score Rises From 63.9 to 66.1

The Comparison

• 2023: A study encompassing 96 Welsh companies revealed an average payment practices score of 63.9 out of 100.
• 2024: This year, the survey included 90 Welsh companies, showing a slightly improved average payment practices score of 66.1 out of 100.

What This Means

While the reduction in sample size from 96 to 90 may influence the comparability, the overall trend indicates a modest enhancement in payment behaviours across the studied businesses; however, with an increase of only 2.1 points, the shift is small, suggesting that there remains significant room for improvement in payment efficiency across Wales. Businesses experiencing late payments can use a late payment calculator to understand their potential financial recourse.

Welsh companies' payment practices improved slightly, with the average score increasing from 63.9 (out of 100) across 96 companies in 2023 to 66.1 (out of 100) across 90 companies in 2024.