Smallest Businesses Pay on Time

Smallest Businesses Pay on Time

Micro businesses are settling their bills more quickly than big firms, new research from credit agency Experian has highlighted. Experian’s payment performance monitor of 6,000 businesses, found that late payment among UK firms of all sizes increased by almost a day on average during July, August and September this year. But the UK’s smallest businesses – those with one or two employees – managed to limit their late payment of bills to just half a day, representing the lowest rise during the same period. On average, firms were settling their invoices 26 days late in the third quarter compared to 25 days during April to June, the research found. Overall, the results indicated that most firms were struggling to pay the bills because of cashflow issues. Experian spokes... »