More than five years after the government brought in legislation to curb late payment, the average payment period of companies in the UK is still longer than when the legislation was introduced – 58 days, up 0.5 days on 1998.
The average payment period for large companies has increased from 72.1 days in 1998 to 78.5 days in November 2003 – an increase of 6.4 days.
Compared to six months previously, the average payment period of companies in the UK, has increased by 0.5 days to 58.4 days:
The average payment period of large companies, compared to six months previously, has increased by 0.7 days to 78.5 days;
The average payment period of medium-sized companies, compared to six months previously, has decreased by 0.5 days to 57.9 days;
The average payment period of small companies, compared to six months previously, has increased by 0.6 days to 57 days.
