Local council late payments ‘lag behind govt guidance’

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Despite the government’s pledge to pay its suppliers faster, local councils are failing to meet their targets, according to a report from the Asset Based Finance Association.

 

Prompt Payment Code ‘needs power and authority’

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Despite legislation being in place to enforce fair payment practices, more needs to be done in order to ensure big companies treat their smaller suppliers fairly, according to the Federation of Small Businesses.


UK growth ‘held back by late payments’

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Overcoming the problem of late payments to SMEs by their larger customers could not only help out small suppliers; it could also have widespread implications for the economy as a whole.


PayPal seek to overcome the credit crunch

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Remember the credit crunch? Back in 2007-08, it was the name given to the rapid tightening of lending criteria by financial services providers all over the world, in response to shocks like the sub-prime lending crisis.


Rejected SMEs to be referred to alternative lenders

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Proposals to require the high-street banks to refer rejected business loan applicants to alternative lenders have been around for a while now, but with the conclusion of a recent HM Treasury consultation on the subject, the picture of how the process might work is becoming clearer.


2.4m SMEs face cash flow time bomb

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Suffer any substantial business interruption, and the clock is ticking – but how long could your company survive with no new money coming into it at all?


Firms report more financial firefighting

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An increase in the number of bad debts being reported for collection has been held up by recovery specialists Lovetts as evidence that non-payment is on the increase.


Chasing bad debts ‘too awkward’ for 1 in 3 SMEs

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Research shows that a third of SMEs are reluctant to chase for payment on bad debts owed to them – but why is this? A lack of suitable terms and conditions? Concrete reasons to expect to be unable to force payment?

 

Base rate ‘complacency’ threatens debtor affordability

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Something few of us have given much thought to over the past five years is soon to become a headline issue – at least in the financial pages – once again.

 

Average construction trade debt nears £500k

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The average trade debt among construction SMEs in the UK is close to the £500,000 mark – and is proportionally higher among some of the smallest firms, according to figures published by Debt Guard Solicitors.

 

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