The latest Late Payment Index from Experian®, revealed that UK businesses paid their bills nearly 1.3 days earlier in Q3 2012, compared to the same period last year. In July to September this year, firms paid their overdue invoices 24.88 days after agreed terms, compared to 26.17 days during the previous year (Q3 2011).
The Index also reveals that payment performance increased slightly when compared to the previous quarter, from 23.46 days between April – June 2012 to 24.88 days in Q3.The difference in late payments between the UK’s smallest businesses and the UK’s largest companies has been getting smaller since the final quarter of 2011 – from a difference of nearly 20 days during 2009, down to under 12 days during 2012. This has been led mainly by businesses at the larger end of the scale and remains broadly consistent for Q3 2012. To read the full story click on the link below.
Source: Experian Press Release