Big business continues poor record of on-time payments
illion’s June Late Payments Report has found the fishing and mining sectors performed particularly well on an annual basis, with payment times falling by 38% and 30.3% respectively. However, the agriculture, forestry and public administration sectors all saw at least double digit increases in late payment times.
“One of…

New Zealanders better at paying their bills than Australians
New Zealand businesses are paying overdue bills more quickly than a year ago, but larger firms continue to be the worst for settling their debts, according to illion’s Trade Late Payments Report for the 2019 March quarter. Payment times for New Zealand businesses have improved by six…

Late payment times fastest on record
New Zealand businesses are paying overdue bills in the fastest time on record, according to illion’s Late Payments analysis for the September quarter 2018. At 5.2 days, the average late payment time for a New Zealand business has decreased 11.7 per cent year-on-year.
“There was a broad increase in prompt payments…

Late Payments up 10% in FY2018
New Zealand business paid overdue bills later in FY2018, with illion’s Late Payments analysis showing a 10 per cent annual increase to 6.8 days at the end of June 2018. Despite the rise, New Zealand’s figure remains well below the Australian average of 11 days. The current difference between the…

New Zealand personal bankruptcies down 5.1% in FY2018
Just over 3,300 individuals declared bankruptcy across New Zealand during the 2018 financial year, according to illion’s Personal Bankruptcy Analysis. The 5.1 per cent annual drop indicates consumer stress is easing nationwide, although there was a sharp rise among the under-25s.“While the overall drop in bankruptcies is a…

Cracks appearing in New Zealand economy
Late payment times for New Zealand businesses have increased sharply, according to illion’s latest analysis. The average time taken to settle an overdue invoice was 6.8 days at the end of the March quarter 2018. The 22 per cent year-on-year spike leaves late payments at their highest level since the…