Businesses waiting longer to be paid
Business cash flow has slowed this year, placing further strain on a range of industries already experiencing low confidence because of weak trading activity and high operating costs.
Businesses are waiting nearly eight weeks to be paid by other companies according to Dun & Bradstreet’s latest Trade Payments Analysis, with the average invoice payment time rising to 55 days during the first quarter of 2013. This figure compares to a national average of 52 days in the previous quarter and 53 days a year earlier, while in New Zealand the average payment time is at 43 days.
After easing during the last half of 2012, payment times have increased this year as a combination of weak sales activity, a high Australian dollar and concerns about operating costs affect businesses’ ability to pay on time.
Operational costs were identified as the biggest barrier to growth for businesses in the quarter ahead according to the latest D&B Business Expectations Survey.
To read the full story click on the link: CASH FLOW SLOWS IN 2013 – DB MEDIA RELEASE – TRADE PAYMENTS ANALYSIS
Source: D&B Australia