Key Business late payment findings
- 51% say late payments are more of a problem than they were three years ago
- 58% say late payments are putting the business at risk of failure
- 58% of SME owners use personal savings to cover the shortfall from late payments
- 36% of SMEs don’t credit check any customers
Business and Industry Finance Experts all recommend companies take immediate action where terms are breached.
Leading Debt Collection experts have warned that unless a more pragmatic approach is adopted by company chiefs, the problem will not go away.