Rise in late payments to SMEs

Rise in late payments to SMEs

March 2nd 2009 2:48 pm

general

According to Bacs Payments Schemes Limited (Bacs) small and medium size enterprises (SMEs) are now owed £25.9 billion. This ...

By Ray Arman

1,258 views

According to Bacs Payments Schemes Limited (Bacs) small and medium size enterprises (SMEs) are now owed £25.9 billion. This is apparently due to a 40% increase in overdue payments over the last year. According to their research
  • the national average of outstanding payments was in £38,000 (£30,000 in 2007)
  • overdue invoices in the Midlands were the highest at £69,000
  • 57% of businesses are owed money (up from 51%)
  • manufacturing had the highest rate of late payments being 65% and
  • the most common cause of late payments was cash flow issues.

be smart. find an accountant online now. it's easy!

what type of accounting work do you need help with? choose below.

terms and conditions

privacy and cookie policy

cookie policy

sitemap

are you an accountant? join our network

have a website, blog or app? become an affiliate

find an accountant

east midlands

east of england

london

north east

north west

northern ireland

scotland

south east

south west

wales

west midlands

yorkshire and the humber

Disclaimer

We are a lead generation facility for accountants located across the UK. We provide our visitors with the ability to search for accountants directly or provide details of the work they require and seek out accountants looking for clients with similar circumstances. Users of this website are assured that their personal details are not distributed to more than one accountant and that accountant is then allowed to contact the user to discuss the service the accountant can provide. All data transmission on this website and administration facility is carried out under full 256-bit SSL encryption.

Please read our full disclaimer.