Companies in the north west had to wait longer to be paid in the third quarter of this year than in the previous three months as cash flow pressures took their toll, figures showed today.
Data published by information services firm Experian showed firms had to wait for an average of 32.66 days beyond terms for invoices to be settled in the three months to September, up from 28.63 days in the second quarter.
However, the figure represents an improvement on the third quarter last year, when they had to wait for an average of 36.75 days beyond terms.
Experian’s research showed this was the biggest year-on-year improvement for any region across England, Scotland and Wales.
Experian’s Max Firth said larger businesses have improved their behaviour when it comes to settling overdue invoices.
Nationally, firms were waiting for an average of 24.88 days beyond terms in the third quarter, up from 23.46 days in the previous three months but down from 26.17 days in the corresponding period of last year.