Have you been paid? - 22/09/04
Britain's plcs are still too slow at paying
bills, the Federation of Small Businesses
(FSB) has said. It takes an average of
46 days for public limited companies to
pay suppliers, the FSB said. The time
has not shortened in the past four years.
The delays can have a serious effect on
small companies, hampering their cashflow
and forcing some to go bankrupt. The FSB
also said it is concerned that many plcs
are ignoring government rules and failing
to report payment times.
"We estimate that one in four of
the businesses that fail do so because
of interruptions to their cashflow,"
said Stephen Alambritis, the FSB's head
of parliamentary affairs.
"With around £20bn outstanding
at any one time, it is not surprising
that every small business has experienced
the difficulties that late payments can
cause."
Don’t suffer from late payments;
Invoice Financing may be the solution.
Written By Simon Johnson
Xbridge
Decision Finance
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