Secretaries and Administrative Support

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The secretaries and administrative support sector in the UK exhibits an average payment time of 30.8 days, indicating that suppliers typically wait just over a month to receive payment. While this sits around the median for UK businesses in general, the percentage of invoices paid within 30 days is 59%, suggesting a significant portion of suppliers experience payment delays beyond the standard timeframe. The late payment rate of 10.2% further corroborates this, highlighting a recurring issue of delayed payments within this sector. This figure, while not exceptionally high compared to some industries, still represents a financial strain on suppliers.

It's vital for suppliers operating within this sector to be aware of these prevailing payment practices. While the average payment time appears reasonable, the substantial proportion of invoices experiencing delays suggests potential cash flow challenges. Suppliers should prepare for the possibility of extended payment cycles and incorporate this into their financial planning. Furthermore, they should proactively manage debtor relationships and consider implementing measures to mitigate the risk of late payments.

These measures should include conducting thorough credit checks on new clients, clearly outlining payment terms in contracts, and sending timely reminders for outstanding invoices. While legal action is an option, maintaining positive client relationships is often preferable. Therefore, open communication and proactive invoice management are key strategies for suppliers in this sector.

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