Cost of late payment nears £50bn

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Cost of late payment nears £50bn. Debt Collection Agency Leicester

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The total cost of late payment to UK businesses stands at almost £50 billion, according to a report from payments processor Bacs.

 

IoD say ‘Don’t panic!’ as trade deficit hits £2.4bn

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Trade deficit. Debt Collection

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A total UK trade deficit of £2.4 billion is no cause for concern, according to the Institute of Directors, following the publication of figures by the ONS that may appear worrying at first glance.

 

Shortcuts to effective cash flow management

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Cash Flow Management. Debt Collection Leicester

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Let’s be clear about one thing upfront – effective cash flow management is not an area where you should be cutting corners, as it’s at the very heart of why you are in business in the first place.

 

Counting the cost of cash

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Counting the cost of cash

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You might think that only taking cash keeps your cash flow simple and your costs down – after all, it’s in the name ‘cash’ flow, right?

 

Payment practices ‘must be published’ under Small Business Bill

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Payment practices 'must be published'

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The Small Business, Enterprise and Employment Bill, introduced to Parliament at the end of June, sets out several measures that aim to improve small businesses’ access to finance.

 

Average SME trade debt hits £1.3m

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Average SME trade debt

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If you received this month’s CPA newsletter, you’ll have seen our report about trade debt – the combination of outstanding and overdue invoices – and how research has shown it is a particular problem for the smallest of companies.

 

Affordability ‘not properly checked’ in 6 of 10 payday loans

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payday loans affordability

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The recent reports about payday loan lender Wonga using made-up solicitors to threaten legal action for non-payment are only one part of the problems faced by some borrowers of firms throughout the industry.

 

Poor credit control forces npower to halt sales

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Poor credit control

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In one of the most headline-grabbing examples of poor credit control to make the news in recent years, the utilities provider npower has been given an ultimatum – bill promptly, or halt sales.

 

A good guide to bad debt

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A good guide to bad debt

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The only good approach to bad debt is to avoid it – not ‘at all costs’, but at costs that are worth incurring, in order to minimise your exposure to debtor risk.

 

Trade debt pushes one in eight SMEs to the brink

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trade debt sme's

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Trade debt – which effectively means outstanding and overdue invoices – has left around one in eight SMEs in severe debt difficulties of their own, according to a recent report.

 

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