UK late payments improve

Thu, 29 Jul 2010

Global information services company Experian’s Late Payment Index shows that UK businesses paid their bills significantly faster during April to June this year than they did compared to the same period last year.

Experian’s analysis shows that during Q2 this year, businesses paid their bills an average of 20.99 days late compared to 23.61 days late in Q2 2009.

Joe Myers, head of commercial credit at Experian, says: “Even though they remain among the slowest payers, the largest companies have improved significantly over the past year.

“This improvement in cash-flow is good news for everyone, especially smaller companies, and better for the economy as a whole. Our analysis also underlines why it is important for businesses of all sizes to monitor their customers’ and suppliers’ payment performance.”