Dealing with late pay is vital

The sooner you tackle debtors and overdue bills, the better your chances of survival, writes Caroline Allen

11th April, 2009

Bank finance may be top of the agenda following recapitalisation but , according to a new report, late pay is a far bigger issue for start-up companies.

The Business Pro report, published in February, found that many SMEs were struggling to cope with an increase in the number of days debtors were taking to pay overdue bills. It found that late payment was causing greater challenges than problems securing bank loans.

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