While the West Midlands outperforms the national average for payment practices, the considerable gap between the highest and lowest scoring companies suggests significant inconsistency. The Hardware and Data sectors had the highest and lowest average scores respectively, but note the low company numbers in both, suggesting this might be unrepresentative.
These West Midlands firms are leading the way in prompt payment, scoring nearly perfect marks:
These companies need to drastically improve their payment habits, according to the data.
The limited number of companies in the Hardware (1) and Marketing and Sales (1) sectors make drawing broader conclusions difficult despite scores of 89.0 and 79.8 respectively. The Energy sector, with 9 companies, scored a respectable 80.9, while Financial Services (16 companies) averaged 79.5. The Data sector, though, is somewhat concerning with an average of 77.9 across just 2 companies, making it an unreliable indicator.
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Takeaway: Despite a West Midlands average PaymentCheck score of 59.3, being 9.3 points above the UK average of 50, Aston Martin's score of 15.4 shows some suppliers could be waiting much longer than others to get paid.
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