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If your business is currently suffering from the effects of late payments, you are not alone. According to a spokesperson for the British Chambers of Commerce, there has been a rise in the prevalence of such issues.
He made his comments in the wake of figures detailed in the Barclays Local Business annual Late Payments Report, which suggested that small and medium-sized firms in the UK are owed more than £10 billion on any given day.
This is due to other firms and customers failing to pay on time.
The spokesperson said: "Late payments has actually been on the increase so more companies were experiencing late payments than they were three months earlier. What that shows is that there is real pressure on the cash flow."
Read our article on The Secret to Effective Cashflow…
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