Small businesses have long been hailed as the backbone of the UK economy – and rightly so. At the start of 2016 the combined annual turnover of SMEs was £1.8 trillion, so it’s no surprise Philip Hammond threw his weight behind them in this year’s Autumn Statement. Yet, as the Federation of Small Businesses has
The post Taking on the late payment culprits: Will 2017 finally be our year? appeared first on Small Business.
Tag Archive for Late Payment
Hot Business News Today
Small businesses forced to write off debt due to late payment
by Ben Lobel • • 0 Comments
Findings from the SME Confidence Tracker report for Q2, undertaken by Bibby Financial Services before the EU referendum, show that 27 per cent of SMEs have written off money due to late payment in the past year. Across the business population, findings equate to more than 1.4 million SMEs suffering from bad debt over the past 12
The post Small businesses forced to write off debt due to late payment by Ben Lobel appeared first on Small Business.
Hot Business News Today
Small business owners preoccupied with chasing payments
by Ben Lobel • • 0 Comments
More than half (52 per cent) of UK business owners worry about unpaid invoices, with the worst-affected regions found to be London, where businesses spend 1.5 days per month chasing payments, followed by 1.3 days by businesses in Wales, according to a study by Xero. The business sector spending the most time chasing payments is HR
The post Small business owners preoccupied with chasing payments by Ben Lobel appeared first on Small Business.