Average late payment times rise by almost a day
Average late payment times among UK firms have increased by almost a day from 25.26 days in the second quarter of 2011 to 26.13 days in the third, according to research by Experian. The research found that micro firms had the smallest increase over this period, from 20.02 to 20.56 days, while large firms showed the greatest rise from 32.79 to 34.89 days. Businesses in the North West had the longest late payment times of almost 37 days. Enterprises in the extractive, utilities and construction industries had improved their late payment times, while the oil, pharmaceuticals, food retailing and leisure sectors increased theirs by more than two days.
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