Small Business Finance News
Report: Small Business Improving More Rapidly Than Others
Written by Jenna Weiner
B2B bill payment figures indicate small businesses are recovering faster than other companies in the current economy.
Experian, a leading global information services, announced Tuesday that companies of all sizes appear to be stabilizing. The company points to numbers indicating steadier bill payment in its Business Benchmark Report for January 2010.
Nationally, businesses are paying their bills easier and increasingly on time. The national average for late payments was just under six days in January, which represents a two-day decrease from the previous month. Small business actually performed better than medium and large companies. Organizations with between 101 and 999 employees showed the highest level of delinquency - averaging between seven and nine days late.
The communications and construction industries represent the worst performance as both paid just over nine days late on average. Utilities and public administration companies performed the best as both averaged 4.89 days beyond terms. Businesses in the Northeast performed the best, while companies in the western Mountain regions continued to struggle.
This is especially good news for small business owners. Banks throughout the country have announced increased lending initiatives, and less financial delinquency augments a small businesses appeal to a lending institution.
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