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During the recent weeks we have seen the issues with Carillion affect a large number of sub contractors and small business. It is commonly known that the construction industry is one of the hardest to ensure you receive payment on time as there are such a lot of variable factors that can delay payment. Recent […]
According to results from the Zurich SME Risk Index , SMEs are owed an estimated £44.6 billion in late payments. Resolving late payment issues is vital for SME’s survival. using Late Payment Legislation as leverage is very effective. Worries over harming customer relationships can deter small business managers and owners from suggesting they will charge […]
A recent survey, carried out by the Federation of Small Businesses (FSB), found that of all invoices issued by SMEs to larger businesses, over 50% are paid late, with BACs estimating the cost to SMEs of chasing these late payments as £8.2 billion a year. Although poor payment practices is very slowly improving amongst UK […]