Four years after the Government introduced late payment legislation, the average payment period for UK companies is 58·7 days – one day longer than when the legislation was introduced in 1998.
The construction industry, however, bucks that trend. In the survey carried out by business analyst Experian, for the 26 110 construction companies surveyed, the payment period averages at 56·4 days.

This is not all good news, though. While small companies within the sector paid up in an average of 55 days, as the size of firm goes up the length of time before payment alsom increases. Medium-sized companies take an average of 61 days to pay, while large firms are the worst, recording an average of 86 days between receipt of invoice and payment.

Source

Electrical and Mechanical Contractor