The Real Cost of Late Payments for SMEs in the UK
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 …
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