Research from credit advisors Experian has shown that UK businesses are having increasing trouble in paying their bills, website byestart.co.uk has reported.
Businesses in the UK are now taking on average over two months (61 days) to pay their bills, an increase of more than two days since November of last year.
It is the highest time on record, since legislation against late payments was introduced in 1998.
And large companies are the worst culprits, taking 20 more days than the average to pay their bills.
The slowest industry to deliver payments, according to Experia, was the electricity sector, followed by property, both at about ten days above the average.
Agriculture, Fishery and Forestry were the quickest at delivering payments, about seven days under the average.
According to Jo Howard, marketing director of Experian's business information division, data on companies' late payment is an 'invaluable asset' in detecting problems with cashflow.
Mr Howard further argued that the high average was being driven by a hardcore group of companies that clings to a 'culture of late payment invoices' and that their influence is growing.
