Owners and directors of small and medium sized businesses are still being caused problems, including stress-related health issues, through the late payment of invoices despite the economic upturn, a survey by the International Association of Book-keepers (IAB) has found.
The IAB, the leading professional body for bookkeepers, surveyed more than 200 of its members, many of whom run their own businesses and count among their clients SMEs from across a range of sectors and from around the UK.
“Bookkeepers can often be closer to the day-to-day financial affairs of small businesses than the owners and directors,” said Malcolm Trotter, Chief Executive of the IAB. “As such, they are perfectly placed to observe and comment on the impact of late payment on SMEs.”
More than half said they had noticed late payments causing cash flow problems for their clients in the past year.
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