Late payments hit cash flow
Published Date:
29 August 2008
Small businesses are struggling to cope with a rise in poor payment practices, a survey carried out by the Forum of Private Business (FPB) has revealed.
According to the research, 88 per cent of respondents say that their bigger customers are not paying them within contractually-agreed periods.
In addition, 72 per cent believe this is having a "serious" or "very serious" impact on their businesses.
Almost one in three (32 per cent) are owed between £1,001 and £5,000, which they say is having an impact on their cash-flow, and 56 per cent state that late payment has become worse over the past year. More than 94 per cent of the FPB's members surveyed called on the Government to set an example by paying its own suppliers on time.
FPB finance and administration director Nick Palin said: "The Government should be paying on time itself and implementing measures to tackle the problem without increasing the burden of legislation."
The full article contains 166 words and appears in Peterborough ET newspaper.
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Last Updated:
02 September 2008 12:02 PM
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Source:
Peterborough ET
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Location:
Peterborough
