At the end of 2009 UK businesses had significantly improved the time it takes them to settle their bills, according to the latest Late Payment Index from Experian, the global information services company.

During December 2009, businesses were paying their late bills an average of 20.88 days after agreed terms - an improvement of over two and a half days from 23.54 days in December 2008.

It was only until August 2009 that UK businesses turned their payment performance...

Rob