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Late payments hitting small firms hardest

By Western Daily Press  |  Posted: August 14, 2014

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More than a third of businesses in the South West are adversely affected by late payments, a survey has revealed. Figures in the Close Brothers Business Barometer show that of those businesses to have experienced problems due to late payments, almost two thirds (61 per cent) say it affects their day-to-day cash flow management, 22 per cent said it has meant they have had to rein in necessary spending and 11 per cent say it threatens their ability to trade. Half of the respondents said they were owed more than £20,000.

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