Analysis: Late payments hang like a spectre over SMEs, despite government promises
Late payments to UK small businesses (SMEs) continue to suffocate the economy.
The cost to the country’s economy, according to The Credit Protection Association, is now estimated at £11bn per year.
This pushes thousands of otherwise viable businesses into difficulty, with nearly 40 UK SMEs closing every day as a direct result of disrupted cash flow.
A business can be profitable on paper, yet still fail if customers consistently pay late.
The impacts of late payment start a chain reaction, from restricting payroll and in... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...
