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Slow payment continues
11:40 13 Feb 2003
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Companies are no quicker at paying their bills now than they were
five years ago, despite the introduction of laws to encourage
prompt payment, a study by the Federation of Small Businesses (FSB)
has revealed.
The payment performance league tables show that UK companies take an average of 46 days to pay invoices, with a fifth taking more than 60 days. Of the 106 construction companies listed in the study, Essex Electrical was the worst payer at 137 days, while Manchester-based Lowry Homes was the best, taking just three days.
Hills Electrical & Mechanical was below average with 55 days, while Totty Construction fared better than average at 36 days.
The payment performance league tables show that UK companies take an average of 46 days to pay invoices, with a fifth taking more than 60 days. Of the 106 construction companies listed in the study, Essex Electrical was the worst payer at 137 days, while Manchester-based Lowry Homes was the best, taking just three days.
Hills Electrical & Mechanical was below average with 55 days, while Totty Construction fared better than average at 36 days.
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