More Australian businesses left bills unpaid for 90 days or longer during the December quarter than a year earlier, Dun & Bradstreet said.
The number of severely delinquent payments, or those over 90 days past due, jumped by 20 per cent compared with the December 2010 quarter, the credit information supplier said.
Western Australian businesses were the best-performing in Australia over the quarter, however, with an average term of 51.2 days.
National average payment terms fell to 52.3 days during the quarter, almost a month beyond the standard 30-day payment period.
Finance, insurance and real estate firms were among the worst sectors, with their severely delinquent payments growing by over 50 per cent on the previous corresponding quarter.
Severely overdue accounts represented nearly $1 million being withheld from local businesses each quarter, Dun & Bradstreet chief executive, Christine Christian, said.
