This site uses cookies; by continuing to use our site you agree to our use of cookies. More details in our privacy policy. Close

 

 

Swansea and Southampton top premier league of payments 16 May 2016

Swansea City and Southampton are the two best teams in the Premier League when it comes to paying invoices on time and having a good credit rating with suppliers.

This is the conclusion of a study by fin-tech company Ormsby Street, the firm behind free credit-checking tool CreditHQ, which put the two teams ahead of more successful on-pitch rivals when it comes to prompt payments.

In light of football clubs counting hundreds of small businesses among their suppliers, The Payment Premier League was compiled by combining figures for payment performance and credit risk.

Martin Campbell, managing director of Orsmby Street, said: “If a small business wins a contract with their local football team then it is easy to let the heart rule the head, and just go ahead with the work regardless – people love the idea of working for the team they support.

“But our analysis shows that just because a team is good on the pitch, it doesn’t necessarily follow that they will be as strong when it comes to paying invoices on time. Not every business is as efficient as Swansea and Southampton are at paying invoices to local businesses on time.”

Sunderland and Crystal Palace prop up the payment premier league, meaning small businesses should be more mindful when trading with those teams.

Ormsby Street said there was insufficient data around payment performance for West Ham United, Watford and West Bromwich Albion to be included in the final table, although Watford’s credit rating of two out of 10 suggested that it would be bottom of the league should data have been available.

Campbell added: “For the most part, English Premier League teams pay on time, but credit-checking customers and partners is something that every small business should do as a matter of course.

“Late payment threatens a small business’ ability to grow and sometimes even survive. When Portsmouth FC faced financial difficulties a few years ago, there were many small businesses in the area that ended up not getting paid so there is a clear precedent for not letting local loyalty get in the way of sound business insight.”

By Marcel LeGouais

 

 

blog comments powered by Disqus