Businesses in the South West had 141,412 fewer overdue invoices on their books in April 2023 than in April 2022, according to new research from R3, the UK’s insolvency and restructuring trade body.
R3’s analysis of data provided by Creditsafe shows that there were 311,232 overdue invoices in the South West last month, compared to April 2022’s figure of 452,644 – a yearly fall of 31.2%.
The South West’s year-on-year reduction in overdue invoices was the third highest of all the regions and nations in the UK, with only the East Midlands (32.5% fall) and Wales (32.1% fall) showing a greater drop in numbers.
