New Zealand Late Payments

Potential for recovery remains

Data from illion’s Commercial Bureau shows that 81% of New Zealand businesses paid their bills on time in June 2021, showing a steady trend from the March quarter. For the remaining 19% that paid late, it took an average of 6 days past the deadline to settle bills.Late payments are now being made 4% later than they were twelve months ago. The year-earlier period falls in the middle of the downward spiral caused by the COVID-19 pandemic.