Bigger firms are slower payers
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• Fewer than half of all large firms pay their bills on time, and companies in the Midlands are the slowest payers, according to new research.
A survey by global information services company Experian indicates that large companies take more than 72.5 clays on average to pay their bills—more than 19 days longer than small companies. "Our research reveals how serious the problem of late payment has become," says Peter Brooker of Experian. He warns that charging interest on overdue invoices is "shutting the stable door after the horse has bolted".
"Companies should be doing more to ensure that payment is not late in the first place," says Brooker. 'Too few carry out any sort of check on the creditworthiness or past payment performance of their customers