Late payments down 25% in FY2018

Australian businesses continue to set records for paying overdue bills faster, with illion’s Late Payments analysis showing a new low of 11 days at the end of June 2018.

“Late payment times resumed their long-term downward trajectory in FY2018, having increased during the preceding 18 months. A healthy cash flow is important to all companies, but even more so for small business, so an improvement in late payments across sectors and regions is a positive sign for the Australian economy.”

Simon Bligh, illion CEO

“A strong cash position in the business sector has seen late payment times fall 25 per cent through FY2018 to be at a record low 11 days. A solid pace of economic growth, low interest rates and low wage costs are giving firms ample cash reserves to pay their accounts in a timely manner.”

Stephen Koukoulas, illion Economic Adviser