The time taken by Australian businesses to pay each other has not improved over the past year, according to Dun & Bradstreet's latest trade payments report. On D&B's analysis, during Q4 2013 business invoices were settled in an average of 53 days; one day slower than a year ago. Further, only 46 per cent of invoices were paid within the standard 30-day period, indicating that despite record low borrowing costs, a lower exchange rate and healthy consumer spending during the Christmas quarter, cash flow remains an issue for many industries. This is "detrimental to Australian businesses' ability to manage their cash flow, pay their expenses in timely fashion, and expand their operations," said Gareth Jones, CEO of Dun & Bradstreet.The credit bureau also expects to see payment times slow in the first few months of this year as businesses recover from the impact of reduced holiday trading hours. D&B's historical analysis shows that first quarter payment times have been slower than the previous quarter every year since 2008.