CreditorWatch says business late payments at highest level since pandemic as economy softens

Late payments by business have surged to their highest level since March 2021 as high interest rates and slowing growth saps confidence.

Releasing its Business Risk Index, credit reporting bureau CreditorWatch reveals around 5 per cent of business-to-business payments were more than 60 days in arrears last month — up from less than four per cent a year earlier.