SMEs taking longer to pay debts in Q1, averaging 44 days
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Mindy Tan
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Singapore
SMALL and medium-sized enterprises (SMEs) are taking longer to pay their debts, with companies taking an average of 44 days to settle their accounts in Q1 this year. This is the slowest rate of payment since the second quarter of 2012 when debts took an average of 46 days to be settled, and marks a trend of increasing tardiness - the time taken to pay their bills in Q3 2014 was 36 days; this ballooned to 42 days in Q4 2014.
Lincoln Teo, chief operating officer of DP Information Group (DP Info) said the deterioration in payment behaviour had occurred during the last six months.
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