Many Businesses in the UK are facing a tidal wave of unpaid invoices due to the current pandemic.
Over 57 per cent of Small and Medium sized Businesses have reported late payment issues since the Covid-19 began. This represents almost 3 in 5 SME’s across the UK.
Independent research carried out by Close Brothers Asset Finance have confirmed what most Small Business owners already knew.
The issue of SME’s not being paid on time or at all is nothing new. Research shows that since 2016 the problem of is an ever-growing issue for the UK SME Business community.
The impact of non-payment for Businesses is huge and should not be underestimated. It restricts the potential for companies to grow and despite various government schemes, it remains the nemesis for SME’s.
The pandemic has only served to exacerbate the problem. With the threat of court action temporarily removed, unscrupulous
We are thrilled to announce that Jacob Bogage is joining Business as a breaking news reporter.
Jacob has experience in this role, having been a Business intern at The Post in 2015 and 2016, before moving to Sports in August of 2016. In March, he temporarily moved from Sports to Business to help cover the economy and emerging recession amid the coronavirus pandemic.