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03/04/2017 - Brexit, forecasting and cash flow ...View pdfPDF

19/01/2016 - Guide to Cash Flow Forecasting...View pdfPDF

05/11/2014 - Business Loan Success Rates and Costs...View pdfPDF

11/09/2013 - More than 1 in 10 SMEs now use invoice finance, SME Finance Monitor...View

30/11/2012 - Obtaining Finance for SMEs...View

30/03/2012 - Stamp price rises make Spindle more valuable than ever...View

02/02/2012 - Double-dip recession? Who will help mid-sized companies?...View

04/02/2011 - Managing Cash in 2011...View

04/02/2011 - Will my bank lend to me in 2011...View

14/07/2010 - foreCASH featured in Network News...View pdfPDF

27/04/2010 - Bank lending to private companies falls by 5.7% in the year to March 2010...View

15/04/2010 - 18% of manufacturers say - More than half of invoices paid late...View

30/10/2009 - £14 report could have saved chancellor £billions ...View pdfPDF

30/04/2009 - foreCASH featured in Accountancy Age (April 2009)....View pdfPDF

28/02/2009 - Third of businesses drop customers ...View

30/06/2008 - In denial or just depressed? ...View

31/01/2008 - Business confidence at two year low ...View

31/10/2007 - Lean times ahead? ...View

29/03/2007 - Buying or renting? ...View

31/01/2007 - Spreadsheet blues ...View

15/04/2010 - 18% of manufacturers say - More than half of invoices paid late

New research from NatWest and RBS reveals that 71% of SMEs in the UK have suffered from late payments over the last 12 months, with the collective value of invoices paid outside of the stipulated terms and conditions estimated at £62.87 billion. As a result, 235,000 SMEs claim time wasted chasing debt has adversely affected their business.

Late payments are most prevalent in the wholesale industry with 93% of firms reporting that they have experienced late payments in the last twelve months. In nearly one in five business services and manufacturing companies, over 60% of all payments they received were paid late.

Industry Some late payments Over 60% of payments late
Wholesale 93% 11%
Manufacturing 81% 18%
Construction 80% 11%
Business Services 72%19%
Retail 66% 8%
UK Average 71% 12%

These numbers are a stark reminder of the importance of (i) monitoring credit risk and payment performance on customers and prospects, (ii) having an active credit control process, if businesses are to be able to forecast and manage their cash flow effectively.

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