Late payment: Small Businesses must act says Debt Collection Expert

 News article highlighting the impact of late payment on a small business and how debt collection experts have recommended action.

UK’s Small Businesses are under serious threat and must act now according to one industry expert. It has been reported that 440,000 Small Businesses in the UK could be forced out of Business by a current late payment crisis. The Federation of Small Businesses (FSB) has called for urgent government intervention to improve the way small businesses are paid. 

This sentiment was echoed by Chris Spencer from leading Business Debt Collection Agency Federal Management. In a recent survey by the FSB, they found that 30% of Small Businesses had seen an increase in late payment of invoices over the past few months. 8% of those small businesses advised that the problem is becoming so bad it is threatening the existence of their businesses. For many years, Small Business late payment has been a big problem. 

Debt Collection Agencies in the UK have collected millions in unpaid invoices on behalf of Small Businesses. For more information visit our website: debt-collection