West Midlands firms, on average, exhibited notably better payment practices than the rest of the UK in 2021, according to our PaymentCheck scores. This suggests a potentially healthier economic environment or stronger payment cultures within the region, though it's worth noting the range is wide, with some companies performing significantly worse than others.
The top performers, achieving near-perfect scores, include:
These companies demonstrate a clear commitment to prompt payment, potentially building stronger relationships with their suppliers.
At the other end of the spectrum, several companies lagged considerably:
These scores suggest potential cash flow issues or a disregard for timely payments, which could negatively impact their suppliers and the broader supply chain. If your business is struggling with late payments, consider using our free late payment calculator.
The sector breakdown, while based on a relatively small number of companies in certain areas, reveals some interesting trends:
The data indicates Hardware and Media sectors were very strong, but this is less significant given the small sample size. Human resources, Energy, and Data also had good scores, which are more relevant because of a higher sample size.
The West Midlands' payment performance in 2021 is a mixed bag, with an overall average 11 points higher than the UK, but a worrying bottom 5 averaging a score below 20.
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