Assistants

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The Assistants sector in the UK, based on data from five companies, exhibits average payment times of 30.8 days. This suggests a relatively prompt payment behaviour compared to some other sectors within the broader UK economy where payment times can often exceed 40 or even 50 days. However, a deeper look reveals a more nuanced picture. While the average is reasonably good, the percentage of invoices paid within the standard 30-day window is only 59%. This indicates a considerable degree of variability in payment speeds across the sector, with a substantial proportion of payments exceeding the expected timeframe.

Furthermore, a late payment rate of 10.2% is a cause for concern. This means that over one in ten invoices are paid beyond their agreed terms, potentially causing cash flow issues for suppliers. This late payment rate positions the Assistants sector as performing averagely when benchmarked against other sectors, which may exhibit rates both significantly higher and lower depending on industry and company size. While there are no immediately alarming trends, it’s important to note that small sample sizes can skew averages; continued monitoring is vital.

For suppliers to the Assistants sector, understanding the full distribution of payment times, not just the average, is crucial. While some clients pay promptly, a significant minority do not. Therefore, suppliers should proactively manage their payment expectations and implement strategies to mitigate the risk of late payments.

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