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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

Half of businesses admit to paying suppliers late

Research reveals internal processes and a lack of automation are top causes of late payments to suppliers, above cash flow constraints.

News

UK businesses confess to ‘late payment’ double standards

New research discovers that the majority of UK businesses have double standards in terms of late payments.

Accounting

Late payments trend to get worse for UK SMEs

Survey of 80,000 invoices from UK businesses reveals stark findings for SMEs coping with late payments.

Business management

How to tackle the SME slow payment problem

Here, Fiona Tee, CFO of Currencycloud, explains how SMEs can tackle late payments and cash flow.

Accounting

Calling in your debts and chasing late payments

Whether you’re established or have recently set up a company, cash flow can often be a finely-tuned part of the business, as we discover here.

Legal advice

Pre-action Protocol: What small businesses need to know

Here, Peter Gardner of Spratt Endicott Solicitors discusses Pre-Action Protocol, or PAP, which sets out specific rules that should be followed if you intend to take customers to court for an unpaid debt.

Accounting

UK’s late payments culture impacting four in ten businesses

A new report identifies liabilities associated with late payments culture spanning jobs, innovation and investment for medium-sized businesses.

Accounting

SMEs urged to automate to help offset time of late payments

Clear Books is urging SMEs to automate processes such as credit control, payments and receipts to help save time spent late payments.

News

Can the new small business commissioner tackle late payments?

A new small business commissioner is appointed to tackle late payments, yet just two per cent of micro-businesses believe he will.

Accounting

SMEs suffering because of culture of slow payments in UK

An ingrained culture of slow payments and cashflow issues is causing major problems for small businesses.

News

Late payments not just a smaller business issue

Late payments is a chronic issue for business of all shapes and sizes, and research from Ultimate Finance reveals new insight about the impact it’s having on SMEs.

News

Late payments cause UK SMEs to miss out on over £250 billion

Report from Siemens Financial Services shows that late payments cause UK SMEs to miss out on over £250 billion of liquid cash flow.

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