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Late Payers for SME's

Since last Summer unpaid/overdue invoices to SME’s have increased by 52% thus amounting to some £55bn having a consequence on cash flow and also restricting growth.

According to the European payment systems provider, Sage Pay, the average business is now owed in the region of £11,500.00 with amounts increasing to upwards of £30,000.00 for one in five SME’s.

If you are an SME have you considered emailing invoices in order to reduce time, thus aiding cash flow and allowing more time for new projects?  Research has found that 67% of SME’s still send out paper invoices and can spend on average two weeks per year in just chasing unpaid invoices. 

If you are experiencing any problems in collecting overdue invoices, please contact Lisa Blair, Debt Recovery Manager/Chartered Legal Executive on 01952 211024.