The latest research by the Credit Management Research Centre (CMRC) has revealed that British businesses have reported a significant decline in the time taken to pay outstanding invoices.
The ongoing survey of over 1,000 companies, from a range of sectors and company sizes, revealed that firms with a turnover of less than Ј1m are experiencing a significant decline in payment delays from their customers, with the average number of days falling from 25 to 19 over the past six months. Companies with a turnover greater than 10 million also revealed improvement with the average number of days overdue falling from 14 to 12.3 over the past six months.