Dun & Bradstreet Australia has published its quarterly report of Late Payments in Australia and key highlights below. This report provides a summary of how late entities pay for goods and services in Australia after payment is due. Late Payments provides a quarterly report with a breakdown according to sector, size, age and location of entities.
Key highlights:
- Late payments in Australia have risen to their highest level since Q3 2014
- The average late payment time for an Australian business is 15.3 days late
- WA leads the national trend, Mining and Construction outpace the national trend and Transport recorded the biggest increase in late payment times
- 8% of Australian businesses pay their bills on time, while 9.5% pay in excess of 60 days beyond invoice terms
- An entrenched late payment culture is at play in the larger companies:
- Big to small payment times show a clear pattern of larger firms paying smaller firms at a delayed rate
- Big companies paid other big companies even later
- There is a solid correlation between late payment times and the failure rate of companies based on the company age
To read the full report click on this link: AU Late Payments 1Q17 final
Source: D&B Australia