Late payment remains a concern for SMEs

Despite positive news on the UK economy, the continuing culture of late payment remains a concern for many small businesses according to the latest research from the national small business group, the Forum of Private Business.

In the organisation’s latest banking and finance survey, 23 per cent of members reported an increase in late payment over the past year compared with just 3 per cent who reported a decrease. 29 per cent have also seen an increase in the average number of days beyond the deadline that a payment is made late whilst 8% reported a decrease, and 19 per cent have seen an increase in both elements of late payment.

We can help ease the burden of late payers, but offering two main services…

1: We offer a Debt Collection Service with a no win, no fee contract
2: We can provide a Credit Control Service to prevent the debt escalating in the first instance.

Contact us today for more advice!

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