Credit management

Late payments impose a £40bn burden on SMEs

If I told you that small and medium-sized companies were owed nearly £40 billion as a result of late payments, I think you’d be rightly shocked. But the figure of £39.4 billion comes from the latest research by BACS Payment Schemes, the direct debit company. Such is the scale of the debt burden on SMEs, up from £30bn last year, 60% told BACS they were experiencing late payments with the average company waiting for £3
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