Ceva Logistics UK has been branded a ‘serial late-payer’ among UK large companies.
At the other end of the rankings, Yodel shows as a prompt payer of invoices, while Air Charter Service is rated best in the transport sector, with transport and logistics operators performing relatively well, overall.
However, their customers haven’t: numerous shippers have been named and shamed for slow payment, with the pharmaceutical, household, F&B, and materials sectors having “the poorest performers”.
Good Business Pays each year publishes the list of the fastest and slowest paying companies for each of the main industry sectors. The latest results show performance figures at the beginning of January 2025.
The UK requires large companies, with £36m annual turnover – rising to £54m from next month – to notify payments made during each reporting period, and the percentage of payments not made within agreed terms.
According to the data, Air Charter Service takes three days on average to pay, with only 8% of invoices paid late. Just 1% are paid after 60 days – although its reporting data is from 2023.
In contrast, Ceva was the only one in transport and logistics in the ‘serial late-payer’ category, with an average time to pay an invoice being 79 days, and more than half of its payments are late. Just 9% are paid within 30 days and 60% paid after 60 days. Its risk rating is 4 out of 10.
UPS Supply Chain UK was also named in the late category, with a 55-day average payment time, and 56% of invoices not paid within the agreed time
Yodel, cited as a prompt payer, takes 11 days to pay an invoice, just 4% are late.
Companies can voluntarily sign up to The Prompt Payment Code, which commits them to paying 95% of their invoices within 60 days.
Good Business Pays aims to encourage the UK’s largest companies to fast-track payments to small suppliers. SMEs employ 61% of the private sector workforce, and generate more than half the turnover – yet 50,000 go out of business each year because of cashflow problems.
“It can take 90 days or more for a small business to get paid by larger corporates. During this time, [they] are using valuable cash resources to pay for people, materials, shipping, and all the related costs of running a business,” noted Good Business Pays.
“Ending late payments by paying small businesses sooner will free-up cash. Cash to meet the costs of doing business.”
The idea was developed in 2021 in response to Covid, with the help of the Federation of Small Businesses, and support from other business industry groups, such as the CBI and British Chambers of Commerce. The campaign could spread internationally – it has attracted interest from governments in Australia, Europe, and the US.
