Automotive Industry
Here is a table of the worst and best payers in the UK Automotive Industry. CompanyAverage time to pay% Invoices…
Slow and late payments hit small businesses and hold back the UK economy. According to the Federation of Small Businesses, around 50,000 small businesses close every year due to late payments.
For the first time, you are now able to see the payment performance for companies alongside the others in the same sector.
Good Business Pays have taken data published by the government and combined it with surveys and feedback to give you easy to use charts and metrics on the payment performance of many large UK businesses.
These sector specific reports provide a unique insight into the payment culture at companies that compete with each other. It will allow small businesses and other interested groups to see how these companies compare to their peer group. The figures in these charts were last updated in March 2022 and will be updated in March 2023.
Analysis by EY (see image above) shows just how different industries compare when it comes to paying an invoice. See how long it takes businesses in your industry to pay up by selecting one of the options below.
And if you’re one of those companies, find out how you can change your payment practices and become Good Business Pays accredited.