GITNUX MARKETDATA REPORT 2024

Payment Timeliness Statistics

Payments are expected to be made on time according to the agreed upon terms.

Statistic 1

"59% of businesses are affected by late payments globally."

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Statistic 2

"33% of businesses say that late payments threaten the survival of their company."

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Statistic 3

"UK businesses spend the equivalent of 3 days per month chasing overdue payments."

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Statistic 4

"46% of SMEs reported that late payments have a significant impact on their cashflow."

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Statistic 5

"On average, businesses wait 28.5 days before following up on unpaid invoices."

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Statistic 6

"Late payments to small businesses in the UK are worth over £50 billion."

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Statistic 7

"75% of companies reported late payment from clients in 2019."

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Statistic 8

"63% of businesses are owed late payment debt from their customers."

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Statistic 9

"78% of businesses encounter late payments."

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Statistic 10

"22.8% of invoices are paid late in the US."

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Statistic 11

"Businesses in South Africa spend 16 hours per week chasing late payments."

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Statistic 12

"In Australia, 53% of invoices are paid late."

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Statistic 13

"50% of Irish businesses have experienced late payments."

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Statistic 14

"54% of UK small businesses cite late payment as their biggest obstacle."

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Statistic 15

"27% of EU businesses report that late payments threaten their business survival."

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Statistic 16

"Over 60% of invoices in China are not paid on time."

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Statistic 17

"The average US business has 24% of its monthly revenue tied up in outstanding receivables."

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