Do you find that you are spending more time chasing late payments of business debts? Are those outstanding invoices building up and you are getting nowhere? Then you are not alone, many businesses are in the same boat, they are owed money by other businesses who refuse
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
The Government is currently deferring a lot of late tax debts from UK businesses and companies. The concern is that with the current economic climate, they might be waiting some time. Veritas Legal and others who follow overdue commercial debt, have noticed that there are more late
The Covid Pandemic has obviously hit a lot of firms in many different ways and not least in the South West of England. The BusinessLive website reports that more than 135000 South West Businesses have borrowed in excess of £5.6bn in Government Covid Loans. The big
Late Payment of Commercial Debt is a serious threat to the stability of the UK economy but also SMEs are concerned that it will effect access to finance, as late payments rise. B2B debts are not something new but many more companies are delaying making payments