The North-South divide is still prevalent in recruitment services, invoice financier Venture Finance has revealed.
According to the companies report, slow payment for recruitment services has the country divided, with some 40% of recruitment firms based in Manchester saying that construction is the worst industry sector for late payment, while in London the same number highlighted the service sector as a major offender.
The manufacturing industry, which traditionally has a greater presence in the north of the country, was ranked second worst payer in the south by 32% of respondents. Only 20% of Northern businesses ranked manufacturing so poorly.
The industry that came in for the least criticism throughout the country was the professional services industry. Only 10% of respondents in London and 12% in Manchester named it as the worst sector for not paying bills on time.
Director at Venture Finance Steve Websdale, said: “Late payment is a serious problem for the recruitment industry and can mean the difference between success and failure for a business. In these cases, it is even more important to ensure the firm's credit control processes are completely up to speed.”
© Crimson Business Ltd. 2006
