Barry Kislingbury

Almost Half of  All UK Small Businesses are ‘Frustrated’ by Delayed Payments

Almost Half of All UK Small Businesses are ‘Frustrated’ by Delayed Payments

Almost half (48%) of UK small businesses are frustrated with delayed payments reaching their business bank accounts, according to a report by YouGov and ACI Worldwide. The online survey of 100 small businesses found that delayed payments have a negative impact on small enterprises with 33% of respondents admitting late payments affect their ability to meet financial obligations on time. 17% of those surveyed feel late payments causes them to lose track of staff up-keep such as salaries, expenses and recruitment, with a further 10% admitting delayed payments prevent them from buying equipment and investing in research and development. When asked about possible solutions, 95% said they believed real time payments would be beneficial to their business, while 29% highlighted faster payments as... »