More businesses paying late

Research from information services firm Experian has revealed that more British businesses are settling their invoices late - almost four weeks after agreed payment dates. Experian analysed data from the end of July 2007 and July 2008 and found that, in 2007, firms were settling their bills 16 days after agreed payment dates. By the end of July 2008, this figure had risen to 25 days. Different sectors have displayed different trends in the time it takes for them to pay up - businesses in the food, drink and tobacco sector settle their terms an average 25 days after payment is due. Agricultural businesses settle their bills an average 15 days later than the agreed payment date, an increase of 7 days on July 2007 figures.

There is more on this story at:
http://www.dofonline.co.uk/strategic-finance/more-businesses-paying-late