Yorkshire and the Humber

**

Payment practices in Yorkshire and The Humber reveal a mixed picture. The average payment time for the 467 companies analysed stands at 40.01 days, which suggests that on average, businesses in the region are taking longer than the standard 30-day payment term. However, less than half of invoices (47.62%) are paid within this benchmark. The late payment rate is also significant, with 27.27% of payments being made past their agreed-upon terms. This indicates a substantial portion of businesses are experiencing, or contributing to, delayed payments. While a comprehensive comparison across all UK regions would require more data, these figures suggest Yorkshire and The Humber may be lagging behind regions with stronger payment performance.

The economic context of Yorkshire and The Humber is crucial. The region has a diverse economy, encompassing manufacturing, services, and a growing digital sector. However, certain areas still face economic challenges, which can impact cash flow and, consequently, payment times. Small and medium-sized enterprises (SMEs) form a significant part of the regional business landscape, and they are often more vulnerable to the effects of late payments. This vulnerability can ripple through supply chains, affecting the stability of businesses across the region.

For suppliers trading with companies in Yorkshire and The Humber, it is vital to be aware of these payment trends. Negotiating favourable payment terms upfront, including early payment discounts, can mitigate the risk of delays. Suppliers should also implement robust credit control procedures, including thorough customer vetting and diligent invoice tracking. Understanding the specific industry sector of their clients is also key, as payment practices can vary significantly between industries.

**