A guide on debt recovery for small and medium sized business

Keeping on top of late paying customers or clients is crucial for business success. There have been a number of studies which highlight the problem of late payment. Research suggests that around 76% of all UK businesses are being paid late, with the average late payment burden for UK SMEs currently standing at £32,185. This places the business in serious financial difficulties, and perilously close to becoming insolvent. The Federation of Small Businesses has commented that "ending late payments would have saved 50,000 UK businesses from failing in 2014". Therefore this is a very real problem impacting the majority of businesses in the UK.

In this guide, we will help you be proactive in preventing bad debts accruing and minimise the disruption (and maximise the return) when they do.

This guide will include the following:

  1. How to keep late payments to a minimum
  2. Initial steps taken by Forbes Collect
  3. Issuing a County Court Claim
  4. Enforcement of a County Court Judgment
  5. Insolvency
  6. Why instruct Forbes Collect

For more information or to instruct us today, contact Forbes Collect on 0800 689 4176 or email us on forbescollect@forbessolicitors.co.uk.

Get in touch

Get in touch to see how our experts could help you.

0800 689 4176

Forbes Collect

08 Jun 2017

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