Businesses across the Bradford district are playing their part in dragging their heels when paying bills, a new report claimed today.
The Grant Thornton International Business Owners survey revealed that firms in the region are breaking the average number of days taken to pay their debts.
UK businesses take an average of 45 days to pay their suppliers' invoices, compared to a global average of 42 days.
But, the research shows that despite a below average performance in speedy payment of debts, the UK still fares better than many EU countries, who take an average of 50 days to pay.
IBOS, the expanded successor to the annual European Business Survey, gauged the views of 6,000 medium-sized independent businesses in 19 countries worldwide and nine in Europe, including more than 600 in the UK.
The North region - which includes Bradford - North West and North East region also take longer than the UK average, at 47 days.
Northern Ireland firms are the most reluctant to settle debts, taking an average of 50 days to pay, but businesses in the Midlands are not far behind, with an average of 49 days.
Businesses in London and the South and those north of the border stay under the average at 42 days. But the promptest payers are businesses in the east of England taking, on average, 40 days.
But taking so long to pay up could hit businesses hard according to Roland Clark, Entrepreneurial Services Partner at Grant Thornton's Bradford office.
He said: "The survey findings show that UK businesses are not setting world-class standards in prompt payment which, if left unchecked, could have a detrimental effect on our ability to do business with overseas suppliers.
"Businesses who want to avoid being victims of another firm's laissez-faire attitude to bill payment should ensure they include written provision for payment of interest over a fixed time period and make a habit of proactively chasing debts after the payment period has expired.
"They should also take steps to check the credit worthiness of new customers before they do business with them."
Globally, it is the European businesses who take the longest to settle their bills.
Spanish businesses are the worst payers in Europe, taking on average 84 days to pay up, while Italian businesses are not far behind, taking an average of 74 days to pay.
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