LATE PAYMENTS DECLINING - BUT SMES STILL OWED £80,000 ON AVERAGE
February 15th, 2019.



New figures from Dun and Bradstreet show that more UK businesses are being paid on time.


The firm’s Q4 report suggests that the number of payments made within agreed terms is improving across all sectors. In the three months to December 2018, 36% of payments were made on time versus 31% in September.

This increase has emerged despite a general deterioration in macroeconomic conditions.

Though it’s great news for small businesses, research from Dun & Bradstreet in late 2018 found that at any one time, SMEs were owed an average of £80,000.

Options for chasing late payments

If you’re still suffering from late payments, changing the way you chase up companies up can make a substantial difference to your cash flow.

Take some tips from these entrepreneurs and business experts.

Go legal
Federica Monsone, owner of network storage provider A3 Communications, decided to contact a solicitor after a client had ignored three invoices she had sent them.


For the full story at smallbusiness.co.uk CLICK HERE.