UK small businesses owed more than £10 billion in late payments
Small firms in the UK are owed around £10 billion in late payments on any given day, according to a report from Barclays.
The Local Business annual Late Payments report reveals that each small business is out of pocket by £2,440 because of suppliers or customers failing to pay within the 30 day invoice period. Nearly a third of the organisations polled said late payments threatened their survival, while 36% said they had to use personal funds to tide over their business.
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