Georgia Home to Slowest-Paying Companies
Other Fast-Paying States Include West Virginia, Wisconsin and Kansas
ALLENTOWN, Pa., Jan. 7, 2015 (GLOBE NEWSWIRE) — If launching a new
business in 2015 is one of your New Year's resolutions, you might want
to move to Alaska, where companies pay their bills faster than in any
other state, according to new data released by Creditsafe, the world's
most-used supplier of online company credit reports. Conversely,
companies in Georgia are slowest to pay their bills, says Creditsafe.
Other states where companies pay quickly include Kansas, West Virginia
and Wisconsin. Those with the worst payment track record, in addition
to Georgia, are Tennessee, Alabama, Louisiana, Mississippi and Florida.
“Evaluating how quickly businesses pay their bills is a key factor in
determining their financial stability,” said Matthew Debbage, president
of Creditsafe's U.S. operations. “Given that getting paid is the
lifeblood of any business, owners in fast-paying states may increase
their chances of success. Businesses in slower-paying regions can take
steps to manage their risk, such as requiring cash on delivery or
Creditsafe calculates the average number of days it takes a company to
pay its bills. Most commercial bills are due within 30 days of being
According to Creditsafe, for the last two years, Alaskan businesses
have paid their bills just four days after the due date. Last year,
companies in Kansas, Wisconsin and West Virginia also paid their bills
in four days, a slight improvement from the previous year. Businesses
in Georgia, on the other hand, took an average of 18 days after a bill
was due to pay, a small improvement from its 20-days past due average
In a positive sign for the recovering U.S. economy, Creditsafe said
that U.S. businesses paid their bills nearly two days faster in 2014
than they did in 2013. Among all companies analyzed, nationwide, the
average number of days a bill was paid after it was due was 9.39 in
2013 and 7.84 in 2014.
Founded in Norway in 1997, Creditsafe, Inc. is the most-used supplier
of online company credit reports in the world. It maintains the largest
single owned and integrated database of business credit information
gathered from 129 countries. Since its inception, the company has
delivered more than 74 million reports to 80,000 subscription customers
across the globe.
With more than 3,000 nationwide customers, Creditsafe is rapidly
expanding its footprint into the U.S. by offering an easy-to-use,
high-quality and cost-effective alternative to Dun & Bradstreet and
other major credit reporting providers. Its U.S. operations are
headquartered in Allentown, Pa.