Small Business late payment costing SMEs £1.6Bn
UK debt collections
MARCH 7, 2024
Small Business Late Payment and the cost of such has more than doubled in the past two years, reaching £1.6 This figure shows no signs of improving, with the average payment still received over a working week beyond the agreed terms. The cost of late payments to small businesses has risen to an estimated £1.6 billion in 2023.
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