Dec 29, 2020
Late payments are ravaging SMEs in the UK with 50,000 businesses failing each year as a result of waiting for overdue invoices. And the problem with late payments is only getting worse. The total value of overdue invoices has increased by 22% in the past 12 months with businesses now chasing £61 billion worth of …
Lynne Darcey Quigley, Co-founder and CEO of Know-it (Global) Ltd & Darcey Quigley & Co discusses how late payments not only hurt your business but will hurt your customer too. It is a well-known fact that small is powerful, especially when it comes to business. In the UK today, companies with between 0 – 49 employees make …
Why late payments are hurting your customer, as well as your business Read More »
It is a well-known fact that small is powerful, especially when it comes to business. In the UK today, companies with between 0 – 49 employees make up 99% of the total number of the c.6m companies currently operating in the economy. So, it is no surprise that SMEs make up such a large proportion …
Why Late Payments Are Hurting Your Customer, As Well As Your Business Read More »
Lynne Darcey Quigley, Co-founder and CEO of Know-it, discusses how late payments hurt businesses and customers alike. It is a well-known fact that small is powerful, especially when it comes to business. In the UK today, companies with between 0-49 employees make up 99% of the total number of companies currently operating in the economy. So, it is …
Why Late Payments are Hurting Your Customers and Your Business Read More »
This article was written by Helen Tanner, founder of the award-winning, Bristol-based, global data agency Data3. The have just launched myDATA3 which is an instant, all-in-one business dashboard tool designed for start-up founders. Why I designed a data tool for start-up founders…because I am one My Dad has been a SME business owner for as …
The turbulence caused by COVID spiralled many SMEs into bankruptcy, and caused many others to face new challenges. One of the most prominent of these is the late payments issue, which has increased by 20% from last year, to £61billion. The digital wave that has swept the world is a step in the right direction …
Know-it: The Real Cost of Late Payments for SME’s in the UK Read More »
Find out who made Insider’s 20 Women to Watch list. The drive to get more equal participation of women in business has taken some steps forward over the past year, according to the latest research. Women made up more than half of new FTSE 350 boardroom directors last year, although this snapshot of appointments does …
Women in business are changing minds… and boardrooms Read More »
By Gordon Merrylees, Chief Commercial Officer, Know-it Late payments can be debilitating to any small-medium sized enterprise (SME). Over 50,000 cease trading every year due to this issue, resulting in untold damage to the entire UK financial state. SMEs are currently owed £61bn in late payments, a 20 per cent increase compared to this time last year. As …
The Real Cost of Late Payments for SMEs in the UK Read More »
Know-it is cloud-based, credit management platform specifically designed to help small to medium-sized businesses chase late payments, manage their credit, and check the credentials of the people they do business with – including through their supply chains. Ultimately, it is a one-stop-shop to help small businesses mitigate credit risk, secure and monitor their cash flow …
Late payments are a huge problem in the UK. Research from Hitachi Capital UK found that a staggering £51.5 billion was estimated to have cost UK SMEs in 2019 with the actual figure expected to be much larger. A third of SMEs have said that they had experienced late payments of at least £10,000 in …
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