25 Jan 2010

NZ business taking longer to pay its bills

12:15 pm on 25 January 2010

The latest survey by a credit reporting agency shows businesses are taking longer to pay their bills.

After three consecutive quarters of recovery, Dun & Bradstreet says the payment terms by New Zealand companies have stalled.

The number of days taken to receive payment rose by 0.3 days in the December quarter to 44.6 days.

Business-to-business payment terms have improved since the height of the global financial crisis, but remain two weeks above the standard term of 30-days.

In the Asia-Pacific region, New Zealand is the 15th worst payer, behind Singapore, Malaysia and Australia.