September saw the biggest month-on-month improvement in business
payment trends since December 2007, according to the latest data
from Experian.
On average, businesses in Great Britain were paying their bills
2.06 days earlier during September compared to August – from 23.60
to 21.54 days. The year-on-year comparison shows a 1.28 day
improvement on September 2008.
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“Payment within agreed terms is favourable and this information
is used to support credit scores and limits,” said Joe Myers, head
of commercial credit at Experian’s business information
division.
“Businesses need to be aware that a history of slow payment will
have a detrimental effect on their credit score and ultimately the
amount of credit available to them.”
The IT sector saw the biggest improvement in both the
year-on-year (down 43.7 percent) and month-on-month (down 25.2
percent) comparisons; while the property sector overtook the postal
and telecommunications sector as the sector with the worst payment
record, paying bills 34.01 days beyond terms.
Jason T Hesse
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