North East business tackling strain of more than 482,000 overdue invoices, research shows

Insolvency experts have warned of the growing strain overdue invoices are placing on North East businesses, with firms currently tackling almost half a million unpaid bills.

The region’s firms have seen a 6.8% jump in unpaid bills in Q3 2024 compared to the same period in 2023, according to R3’s analysis of data provided by Creditsafe. In all, North East firms had 482,174 invoices that had gone past their payment deadline on their books in Q3 2024 – with 156,554 in July, 162,568 in August and 163,052 in September.

The region faring the worst was the West Midlands, which has seen a 50.3% rise year-on-year, followed by Scotland on 33.6% and the South West on 12.1%.

Kelly Jordan, chair of R3 in the North East, said: “While the rise in overdue invoices in the North East has been more modest compared to some other regions, it remains a warning sign of the financial strain many businesses in the region are still facing. Costs are continuing to rise, albeit at a slower pace, and it’s becoming increasingly more difficult to pass on these extra