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Posts Tagged: Bacs

Is Your Aged Debt Causing More Than Cash Flow Problems?

Posted by on February 17th 2015 in Blog Posts, Debt Recovery

A recent study by Bacs, the payment processor, has uncovered some interesting, if not perturbing, statistics on the late payment of invoices. Consider the following:

  • The average small company is owed some £32,000;
  • The additional costs incurred by small companies resulting from late payments are in the region of £677 per month;
  • Companies employing fewer than 250 people are owed £32.4 billion;
  • Larger companies are owed £9.1 billion;
  • Overall, some 59% of businesses are affected by the issue.

If that wasn’t enough to give you pause, the overall effect of unpaid invoices means that a lot of directors, partners and sole traders are forced to...

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