West Midlands Payment Trends: 2020 vs 2021
West Midlands Payment Practices: Marginal Improvement Seen in 2021, Average Score Up 1.7 Points
The Comparison
- 2020: A sample of 371 West Midlands companies yielded an average payment performance score of 59.3 out of 100.
- 2021: The analysis of 426 companies in the West Midlands showed a slight increase in the average payment performance score, reaching 61.0 out of 100.
What This Means
The increase of 1.7 points in the average payment score between 2020 and 2021 suggests a very small overall improvement in payment practices across the West Midlands, although the relatively minor change could be attributed to sampling differences, or simply reflect the ongoing challenges of the post-pandemic business environment. It's worth reviewing your own late payment issues with this late payment calculator to see how you are performing against the trend.
Summary: In 2021, West Midlands companies averaged a payment score of 61.0/100, a marginal increase from 59.3/100 in 2020.
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