New Zealand businesses are paying their bills nearly a week faster than at the height of the financial crisis, according to a new report by Dun & Bradstreet.
In the last three months of 2009, businesses averaged payment terms of 44.6 days, compared with more than 50 at the height of the global economic crunch.
All of which will be good news for many local businesses.
Dun & Bradstreet New Zealand general manager John Scott said the overall trend was for speedier payment. Businesses needed to encourage and monitor this for their own wellbeing, he said.
For an Openside take on the same subject, be sure to check out the coming issue of Her Magazine, in which our own Debbie Haddon looks at smart new ways for companies to find cash during commercially quieter times.
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