In this week’s Business Finance Bulletin I look at how small businesses continue to suffer from cashflow problems due to late payments. Surveys from the Asset Based Finance Association and BACS reveal the extent to which SMEs are being held back by late payment… find out how.
Poor cashflow has led to businesses falling behind in VAT repayments; with insights from specialist finance lender LDF showing how overdue VAT is on the up, this is one example of the impact of late payment.
In its quest to improve access to advice and finance I have news on the government’s revamp of its Great Business website and of £10m lent by the British Business Bank to Ratesetter for on-lending to individuals.
In the Business Finance Tip of the Week I have a guest tip from Steve White of Thornbury Collection Services on the excuses businesses trot out when they are overdue on payments.