Is your business suffering because of late payments?
Many small and medium sized businesses are finding it difficult to their customers failing to make payments on time.
Accordingly to the Federation of Small Businesses (FSB) around 4,000 firms collapsed in 2008 due to late payments.
This is a serious issue for many businesses across the UK. Many firms do not have the time to keep chasing customers for payments and find it a drain on resources.
Customers have the right to receive their goods or services within agreed deadlines but what is sometimes forgotten is that businesses have the right to be paid on time as well.
When customers fail to pay on time they may not realise that this forces the business into an impossible position. Businesses often find themselves having to speak to their bank to cover the costs until they get paid, but with current state of the banking sector this is not an easy task.
Allison Chatto, Head of Simpson Millar LLP's Debt Recovery team said: "Our debt recovery team can deliver a quick and efficient service to businesses who are struggling to get invoices paid on time. Why not get in touch to see how we can help you and take the stress and pain out of the whole process." Useful links
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