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Navigating through COVID-19 and Late Payment

16 Oct 2020

The announcement of a national lockdown on 23rd March 2020 caused much uncertainty and chaos for many of the businesses within the United Kingdom. It has now been months of worry and despite the UK Governments attempts to navigate the country through the pandemic and help our businesses along the way,…

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Credit Control and the Increase of Unpaid Invoices

16 Oct 2020

The increase of unpaid invoices has no doubt had an impact on the workload of those within credit control. As the department gets busier, you should have an effective credit management system and procedures in place to ensure that you are keeping on top of the status of all outstanding invoices and the…

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The Late Payment Plague

28 Aug 2020

Recent research by accountancy firm Moore has shown that the average waiting time for payment of supplier invoices is 41 days, the same as it was in 2015. Staggeringly, over 17,000 businesses involved in the study are having to wait 90 days or longer to receive payment of money that they are owed.…

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Business Debts & Covid-19

21 May 2020

Across the UK, businesses from all sectors are facing an unprecedented challenge because of the Coronavirus pandemic, and despite the government's extensive support package for businesses, many are still struggling with the shortage of cash-flow. One major contributor to this will be unpaid invoices…

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The rise in unpaid invoices - Is coronavirus to blame?

18 May 2020

Recent times have seen unpaid invoices increase by 23% since lockdown measures were announced by the UK Government, following an analysis of 26 million business to business invoices by AI platform provider, Sidetrade . The impact of COVID-19 is certainly a contributing factor to the increase, but…

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Businesses Must Prioritise Credit Control

19 Mar 2020

Bad cashflow remains the key risks to businesses. The Insolvency Service has recently reported that in 2019, underlying company insolvencies have escalated to their highest annual level since 2013. This increase has been driven by an increase in Administrations and Creditors' Voluntary…

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Top Tips for Avoiding Business Debt

28 Mar 2019

You can have all the ingredients for a successful business - a great product or service, happy customers and dedicated staff, but if the cash is not coming through, it can crumble. Currently, British business is continuing to suffer from a damaging late payment culture and SMEs are amongst the…

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