27 Oct 2010

Firms take average of 44 days to pay bills

7:17 am on 27 October 2010

Credit reporting agency Dun and Bradstreet says big businesses are taking longer to pay their bills than before the financial crisis, and that's having a detrimental effect on the wider economy.

New Zealand firms took 44.3 days to settle their trade accounts during the September quarter.

The agency says while that's an improvement on the previous two quarters, it is more than two days longer than before to the financial crisis.

Firms with more than 500 employees took the longest to pay their bills - at 48.4 days.