West Midlands Payment Trends: 2022 vs 2023
West Midlands Payment Performance: Slight Improvement with Average Score Up 1.5 Points in 2023
The Comparison
- 2022: Analysed data from 407 companies in the West Midlands, revealing an average payment performance score of 61.2 out of 100.
- 2023: The sample size decreased slightly to 395 companies, with the average payment performance score edging upwards to 62.8 out of 100.
What This Means
While the number of companies analysed saw a minor decrease, the average payment performance score in the West Midlands showed a marginal improvement. A shift of 1.5 points indicates a slight positive trend in payment behaviours, but it's important to acknowledge that this change is not substantial. You can use this late payment calculator to understand the impact of slow payments on your bottom line.
One-line summary: The average payment score in the West Midlands increased from 61.2 (407 companies) in 2022 to 62.8 (395 companies) in 2023.
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