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

Late payments costing UK SMEs more than £2 billion a year

Latest figures show that SMEs are now owed £14.2 billion – down from £30.2 billion five years ago, adding up to £2.16 billion a year.

News

Late payment epidemic set to cripple exports for British SMEs

New research reveals more than one in three UK SMEs receive no payment terms from their customers.

Accounting

Tackling slow payers, today and tomorrow

Ed Adshead-Grant, general manager of payments at Bottomline Technologies, discusses the best ways of taking on slow payers.

Accounting

How your small business can prepare early for late payment

Here Simon Willmett, finance director at Nucleus Commercial Finance, explains how small businesses can mitigate the impact of late payments.

Accounting

Late payments crisis will not be solved by new payment practice laws

The late payment crisis will not be solved by new payment practice laws, say four in five SMEs, and could deepen thanks to unintended consequences.

Legal advice

Time to face the music: the duty to report ushers in a new era for late payments

Dafydd Llewellyn, managing director of UK SMB, Concur, talks us through how the new Payment Practices and Performance regulations 2017 will affect small business suppliers.

News

SMEs owed more than £44.5 billion in late payments

More than half of UK small businesses have been affected by delays and late payments, totalling up to more than £44 billion.

News

Small suppliers still suffer at the hands of big business slow payer ethic

Half of small businesses in the UK are still suffering from slow payer ethic, as large company practices become regulated.

Accounting

Why late payments are an epidemic for small businesses

Here, Gary Turner, UK managing director and co-founder of Xero, tells us why small businesses are more affected by late payments than large businesses.

Accounting

Coping with late payments as a small business

If your customers have payment terms you need to manage cash flow carefully, and a late payment can throw things off. Here are a few ways you can cope.

Accounting

UK micro-businesses not optimistic about late payment tsar

New research shows just 2 per cent of UK freelancers and micro-businesses think the forthcoming Small Business Commissioner will be able to do anything about the issue of late payments.

News