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Looking to Start a New Business in 2015? Consider Alaska, Where Companies Pay Their Bills Faster Than Anywhere Else in U.S., According to Creditsafe

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
upfront payment.”

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
issued.

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 2013.

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.

About Creditsafe

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.

CONTACT: Media Contact:
Rachel Neppes
Buchanan Public Relations for Creditsafe
(610) 649-9292
rachel@buchananpr.com

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Gresham Harkless Jr.

Gresham Harkless is a Media Consultant for Blue 16 Media and the Blogger-in-Chief for CEO Blog Nation. CEO Blog Nation is a community of blogs for entrepreneurs and business owners. Started in much the same way as most small businesses, CEO Blog Nation captures the essence of entrepreneurship by allowing entrepreneurs and business owners to have a voice. CEO Blog Nation provides news, information, events and even startup business tips for entrepreneurs, startups and business owners to succeed.

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