Infographic: FreshBooks Economy Reaches One Billion in Just Four Months
July 14, 2010
We’ve recently spent a little time digging into the aggregate activity and usage across the FreshBooks community to better understand the trends and needs of our users. So far the data report proves what we’ve long suspected: there’s a thriving global network of freelancers, small business professionals, and service providers — in short, you lovely people who are the underappreciated duct tape of the global economy.
So how big is this ball of duct tape? Well…as it turns out one billion (USD) was invoiced worldwide using FreshBooks from January to early May of this year. In contrast, it took us until August to reach the same milestone last year.
Check out the infographic below and you’ll see we looked at activity based on country, and the findings are certainly thought provoking. Here are some highlights; you draw your own conclusions and interesting theories:
- The average invoice size on FreshBooks was $1,677
- Mexico and Sweden saw the largest invoice sizes with $4,669 and $4,423 respectively. India and Malaysia were the lowest with $414 and $406
- Average invoice size for the U.S. was $919
- The average time to pay was 22.8 days
- China saw the shortest time to pay with 11.9 days, while India saw the largest at 31.7 days
- Average time to pay for the U.S. was 20 days
(all values are in US dollars)
Thanks to Interactive Things for the outstanding infographic.
about the author
FreshBooks, the world’s #1 cloud accounting software for self-employed professionals. Built in 2003 after he accidentally saved over an invoice, Mike spent 3.5 years growing FreshBooks from his parents’ basement. Since then, over 10 million people have used FreshBooks to save time billing, and collect billions of dollars. A lover of the outdoors, Mike has been bitten so many times it’s rumoured he’s the first human to have developed immunity to mosquitoes.Mike is the co-founder and CEO of