By Small Business Team on Small Business – Advice and Ideas for UK Small Businesses and SMEs
Join Small Business Commissioner Liz Barclay for our next Twitter Q&A this Thursday, September 9 between 4pm and 5pm GMT. Liz will answer your questions about poor payment practices affecting your business.
Former campaigning journalist and BBC broadcaster Liz Barclay a long history of campaigning for social justice when it comes to consumer rights and personal finance.
What can I do to speed up invoices being paid?What if it’s a large company who’s my sole customer?What steps can I take without going to court?How can the Small Business Commissioner help me and my firm?
Late payment putting British SMEs out of business
The Federation of Small Businesses estimates that 50,000 SMEs are forced out of business each year because of late paymentSmall business are currently chasing more than £50bn of late paymentsThe average UK SME is chasing five outstanding invoices at any one time, using up an astonishing 1.5 hours a day, with an average of £8,500 owedThe Government’s own figures are that £23.4bn is owed in outstanding invoices to UK businesses
To join in, just follow @smallbusinessuk and get involved by tweeting your question with the hashtag #AskSBCommissioner.
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