Self-storage

**

The Self-storage sector in the UK exhibits moderately prompt payment behaviour, with an average payment time of 33.17 days. This places it somewhere in the middle ground when compared to other UK sectors. While not excessively slow, it's notably longer than the ideal 30-day standard often aimed for. Just over half (53.33%) of invoices are settled within the 30-day window, suggesting a significant proportion of payments drift beyond this timeframe. This delay can impact supplier cash flow.

A concerning aspect is the late payment rate of 16.33%. This indicates that a sizeable fraction of invoices are not only paid after 30 days but also beyond their agreed-upon payment terms, potentially incurring late payment penalties (although enforcement may vary). The observed pattern highlights that suppliers operating within this sector should be aware that delayed payments are not uncommon. Negotiating favourable payment terms and proactive invoice management are therefore critical for maintaining healthy financial stability.

Suppliers should carefully consider the implications of these payment patterns when engaging with self-storage companies. Understanding the potential for delays and the presence of late payments is vital for accurate forecasting and mitigating financial risks.

**