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Late Payment

Articles, news and advice on the widespread issue of late payments for UK small businesses. Topics covered include government regulation, debt collection strategies, setting legal deadlines for payment, imposing penalties for delays, and establishing mechanisms for dispute resolution or renegotiation of payment terms.

News

Big companies must pay small business suppliers within 30 days

Companies will have to pay 95% of small businesses within 30 days, down from 60 days

Business management

How to choose a debt collection agency

Former Labour shadow chancellor Chris Leslie on how to find a debt collection agency to chase unpaid invoices

Business management

How to chase debts and get paid

Ignoring money owed to you is not a business strategy. Sue Chapple offers ways to ensure your small business gets paid.

News

Large firms should each have one person to deal with late payments – FSB

The worsening problem of late payments is a central talking point at the Conservative Party's virtual conference

Running a Business

Local lockdowns only make the problem of late payment worse

Late payment can rip through businesses in lockdown just as fast as coronavirus, says Paul Christensen. But with technology there’s no reason invoices cannot be settled on day one

News

Businesses could be facing fines for paying their suppliers late

The Small Business Commissioner may be getting more powers, such as issuing fines to firms who don't pay their suppliers on time

News

Pay us within one month if you take COVID-19 cash, say small businesses

Figures show that late payment sums rose by 80 per cent to £23.4bn at the end of last year and FSB is asking the Government to take action

News

One in five small businesses fell into their overdrafts last year

A worrying number of small businesses rely on their overdraft to manage their cash flow as late payments and uncertainty bite

Business management

What small business needs from new chancellor Rishi Sunak

Caroline Plumb OBE, serial entrepreneur and founder of cash flow management app Fluidly, reacts to the Cabinet reshuffle bombshell and asks, ‘Now what?'

Accounting

Small businesses spend hour and a half each day chasing late payments

UK SMEs are owed more than £50bn of late payments between them as big companies put off settling invoices

Accounting

Microbusinesses spent 10 weeks handling financial admin in 2019

Financial admin is time-consuming for micro firms – and it's not helped by late payments. Here's how to protect your business against them.

News

Labour to stop rollout of Making Tax Digital to all small businesses if it wins

Labour publishes 20 Pledges to Business bringing together all its reforms to help small businesses, including creation of Business Development Agency

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