Late payments affect three-quarters of small firms
Late payments are affecting nearly three-quarters of all UK small firms who now collectively have around £15 billion worth of unpaid invoices, according to research by NatWest and Royal Bank of Scotland (RBS).
A spokesperson has called bad debts and late payments "endemic" for a lot of small firms but pointed out that only 45% of those questioned said they had taken measures to improve their cash flow. Late payments are most common in the wholesale industry, followed by manufacturing and construction.
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