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West Midlands Payment Practices Report 2022

•By PaymentCheck•Reports

West Midlands Payment Performance: Significantly Better Than UK Average, But Wide Disparities Exist

The Numbers

  • Companies analysed: 407
  • Average PaymentCheck Score: 61.2/100
  • UK average PaymentCheck Score: 50.0/100
  • West Midlands average above UK average: 11.2 points
  • Top PaymentCheck Score: 100/100 (2 companies)
  • Lowest PaymentCheck Score: 13.1/100
  • Sector with highest average PaymentCheck Score: Hardware (95.5/100)

What Stands Out

While the West Midlands' average PaymentCheck score of 61.2/100 handily beats the UK average of 50.0/100, a wide gap persists between the best and worst payers, with scores ranging from a perfect 100 to a dismal 13.1. The small sample sizes of top-performing sectors like Hardware and Media & Publishing limit how much we can infer from those high averages.

Best Payers

These West Midlands firms are leading the pack when it comes to prompt payments:

  1. EXACT MORTGAGE EXPERTS LIMITED - 100/100
  2. SANDERSON ASSET MANAGEMENT LLP - 100/100
  3. CLICK TRAVEL LTD - 99.8/100
  4. BRYT ENERGY LIMITED - 99.6/100
  5. CHARTER COURT FINANCIAL SERVICES LIMITED - 99.47/100

These companies are a good indicator that excellent payment practices are possible.

Worst Payers

These companies need to improve their payment behaviours:

  1. FERRARIS PISTON SERVICE LIMITED - 13.1/100
  2. CMBC SUPPLY LIMITED - 14.8/100
  3. GRAINGER & WORRALL ENGINEERING LIMITED - 17.7/100
  4. COLAS LIMITED - 19.3/100
  5. LEICA BIOSYSTEMS NEWCASTLE LIMITED - 19.5/100

Such low scores demonstrate that there are significant issues with payment practices at these firms. Suppliers can use this late payment calculator to understand their rights if invoices are not paid in a timely manner.

Sector Breakdown

While a broader sector breakdown would be more telling, the data shows:

  • Hardware: 95.5 avg (1 company)
  • Human Resources: 87.1 avg (6 companies)
  • Media And Publishing: 85.9 avg (1 company)
  • Data: 83.1 avg (2 companies)
  • Financial Services: 82.8 avg (18 companies)

Financial Services has a decent showing with a solid 82.8 average across 18 companies, suggesting relatively sound payment practices in this sector compared to the overall average.

Despite a significantly higher average PaymentCheck score (61.2) than the UK as a whole (50.0), the West Midlands still exhibits a concerning spread in payment performance, underscored by Ferraris Piston Service Limited's low score of 13.1.