New Zealand businesses pay their suppliers faster during COVID-19 than before the crisis
New Zealand businesses have demonstrated a remarkable resilience over the past twelve months, choosing to continue paying their bills more promptly, even through the pandemic.
Late payment times in the September 2020 quarter averaged 5.9 days, improving 0.2% from the same time last year, bucking a worldwide trend towards ever later payments.
Other key trends over the past twelve months include:
- Auckland payment times have deteriorated after the second lockdown.
- Larger firms have been flexing their economic status in the market to increase payment times.
- Older, more established businesses are no longer paying as quickly as they have in the past.
Read our report to learn more.