Late payments to smaller firms on the increase

Approximately one in four small companies experienced an increase in the amount of late payments during 2013, according to the Forum of Private Business (FPB)recent banking and finance survey. Almost one in three companies examined reported an increase in the typical number of days beyond the payment deadline that payments were made. Approximately one in five experienced an increase in both the amount of late payments and the days taken to pay. FPB Chief Executive Phil Orford stated that more than £30 billion still remains ‘tied up in late payments’.
Read more about the FPB survey results at:
http://www.fpb.org/news/2682/Late_payment_remains_a_concern_for_SMEs_despite_improving_economy_says_Forum.htm

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