The average late payment time for an Australian business fell to a record 11.0 days during FY2018, according to illion’s latest analysis. The June quarter average represents a 24.9 per cent annual drop, down from 14.6 days in the prior corresponding period. The percentage of businesses paying their bills on time was 70 percent.

Key Insights:

• Tasmania fastest region at 8.5 days
• Retail worst sector at 14.5 days
• Prompt payments hits 70%
• Late payment times down 25% in FY18

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