The Know-it Blog

The Know-it Blog

The Know-it team

Dec 29, 2020

Prompt Payment Law: What Does it Mean for Your Business?

New changes have come into place in April 2024, with updated standards for Prompt Payments being introduced.  As of April 1st, 2024, there are significant changes for big businesses bidding for large government contracts.  The Prompt Payment Law brings significant changes that will impact businesses across the country, so we’ve broken down the details to …

Prompt Payment Law: What Does it Mean for Your Business? Read More »

Insolvencies across construction sector continue to rise and late payments are the driving force

Our construction industry is an integral cog within our economy and if figures continue to read so poorly, then we are running the risk of causing irreversible damage to the sector. Recent survey data conducted across UK construction industry professionals has lifted the lid on the dire state the industry is now in as a result of …

Insolvencies across construction sector continue to rise and late payments are the driving force Read More »

UK Government’s Review on Payments and Cash Flow a ‘Step Forward’, According to Know-it

The UK Government has published its most recent review into business payments and cash flow. The review, published in November 2023, calls for greater and more transparent reporting for businesses in an attempt to reduce the threatening late payment culture. The report details the context surrounding late payments on UK businesses and the impact it has on …

UK Government’s Review on Payments and Cash Flow a ‘Step Forward’, According to Know-it Read More »

Technology crucial amidst 14-year high company insolvency rate

2023 has earned unwanted recognition as the most challenging year for UK businesses since 2009, in the wake of the global financial crisis. The latest insolvency figures show that between July and September, there were 6,208 registered insolvencies across England and Wales. A 10 per cent year-on-year rise is troubling reading for UK business owners. …

Technology crucial amidst 14-year high company insolvency rate Read More »

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