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13 March 2023 10:30

UK small businesses experienced late payments in 2022, highlights FSB report

A recent report by the United Kingdom’s Federation of Small Businesses (FSB) highlighted the struggle of small business owners who experienced late payment problems in 2022.
During 2022, a quarter of small businesses (25%) reported more late payments than in the previous three months, with construction (34%) and manufacturing (29%) being the most affected sectors.
During the same year, about

6 February 2023 10:15

Small business confidence in the UK plunges to levels not seen since the pandemic

The Federation of Small Businesses (FSB) has warned that confidence among UK-based small business owners has dropped to its lowest level since the second Covid-19 lockdown in the fourth quarter of last year.
The Small Business Index headline confidence figure fell to -46 points in the fourth quarter of 2022, down from -36 points in the third quarter and the lowest reading since the fourth quart

30 December 2022 16:52

Only one-third of large Australian corporates pay their invoices within 30 days - survey

Australian small businesses are disproportionately affected by late payments because they are burdened with unpaid invoices, according to Australian Small Business and Family Enterprise (ASBFE).
Only 31% of large businesses paid small business customers within 30 days, according to a recent analysis by ASBFE, while 23% took an incredible 120 days to pay their bills.
ASBFE Ombudsman Mr. Bruce

19 December 2022 14:01

41% of USA SMEs unable to pay rent on time or in full - survey

Small business owners in the United States are struggling to pay rent on time due to high inflation, reduced consumer spending, and other economic pressures. All these factors are making it challenging to keep their business alive.
A survey of 6,326 SMEs by the small business network group Alignable highlights that about 41% of SMEs could not pay rent on time or in full for the month of Novembe

22 November 2022 10:13

UK small businesses are jumping on the climate bandwagon, but economic uncertainties may play spoilsport

While the COP27 has brought global leaders together to intensify efforts to address climate issues, small businesses in the United Kingdom have already started their journey towards the common goal but many are also concerned about economic challenges they may face in 2023 which may force them to make difficult choices, according to Novuna Business Finance.
In a survey of more than 1,000 UK sma

12 November 2022 12:21

UK small businesses experience the highest number of late payment days in two years

While there are concerns about the United Kingdom entering a recession, Xero reports that small businesses are already feeling the pinch as the number of days that customers took to pay their overdue invoices rose to a two-year high.
In September, small businesses waiting to get paid rose by 0.6 days to 30.6 days, which is the longest waiting time in two years and the sixth consecutive month of

2 November 2022 10:00

Australia’s Coles overwhelmed by suppliers’ requests to raise prices

As Australia’s inflation accelerated to a 32-year high, the higher cost of doing business is eating into suppliers’ profits and threatening their survival as customers are not willing to accept higher prices.
With inflation rising to 7.3% in the last quarter, supermarket chains Woolworths and Coles are facing tremendous pressure from food and grocery suppliers to raise the shelf prices of their

25 October 2022 13:09

UK suppliers breaking off business ties with companies due to late payments

According to a surveyby Ivalua, six in ten (59%) UK businesses stated their relationships with suppliers had ended as a result of frequent late payments, and 62% said such ties had been severely harmed.

If companies keep making late payments, two-thirds of businesses (67%) worry that there would be a "global cashflow catastrophe."
A third of businesses (35%) had a “severe lack of vis

1 October 2022 11:00

South African government departments' unpaid bills to suppliers rises by 600% in just one quarter

The South African Public Service Commission (PSC) is worried about the impact of late payment of suppliers’ invoices by the government departments, and is urging them to quickly settle the outstanding bills to ensure that supplier SMEs can survive in this tough economic environment.
Its bulletin The Pulse of the Public Service, which is published every quarter, highlighted that number of unpaid

24 September 2022 11:18

Europe announces relief package to keep SMEs afloat

The European government has announced a relief package for SMEs to deal with with high prices and late payments, but these measures may not be enough to bring their cash flows in order.
About 25 million European SMEs employ almost 100 million people and are the backbone of the industry and economy.
After suffering the pandemic, SMEs are now affected by soaring energy prices, inflation, and s

Image by StartupStockPhotos from Pixabay

3 September 2022 12:47

US and Canada small businesses’ sales are growing but inflation remains a major concern

Xero, which launched its Small Business Insights for the United States and Canada, revealed in its report that sales of small firms are growing and their invoices are also being paid quicker than the average historical trend, but high inflation is playing spoilsport. SMEs should evaluate how the current unpredictable business climate will affect their working capital as well as consider foster

5 August 2022 14:27

Australian SMEs struggle to manage cash flows due to late payment, findings reveal

Insights from reports on late payments, transactions, and a survey show Australian SMEs are just treading water to survive, and with banks tightening their lending and government handouts having disappeared, the risk of survival has increased. Managing receivables by accurate invoicing can help small businesses improve their cash flows during tough times.
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