19 Oct Commercial Late Payments of Debts Hitting Small Businesses
Late payments of commercial debts are a definite threat to small businesses and as many as 84% of small businesses are suffering them (according to the Credit Connect website).
The effect of late payments is that the small businesses who are owed the debts, will struggle to pay their invoices on time and therefore the cycle continues.
Credit Connect continues to say “For one in four (25%) small businesses, the impact of late payments is limiting their businesses’ ability to grow, while one in five (20%) say they are worried their business won’t survive purely because invoices are not being paid when they’re due.”
This is always a worry at a time when we are trying to kickstart the economy again. Late payments can be seen as major stumbling block in the rejuvenation of the economy.
Veritas Legal can help small businesses recover late payments and ensure that your business is able to stay liquid and pay its debts on time too.
If you have a business to business debt you are struggling to recover, please call: 01392 498686 or email: email@example.com or Submit your debt here.