• News
  • Posted 4 years ago

Demands For Whitehall to Act Against Late Payers

Former Commissioner for Small Businesses, Paul Uppal, has spoken out against late payers; demanding that Whitehall take action against them.
  • News
  • Posted 4 years ago

Large companies, he believes, are taking advantage of smaller businesses, with long overdue payments which are having a damming effect on SMEs.

He’s right.

FACT: Many businesses admit they are facing bankruptcy as a result of late paying customers.

An SME’s payment terms might well be 30 days yet more and more frequently they aren’t being paid until 60, even 90 days.

How can any business survive? Cashflow dries up. There’s no working capital. Overheads cannot be met, expansion cannot be planned. Instead of concentrating on the business, they’re wasting valuable time chasing invoices.

Instead, even a thriving company that should be looking to grow, spirals downwards towards financial disaster.

Sound familiar?

FACT: 1 in 4 businesses spend over 10 hours a week chasing late payment.

That’s where invoice finance steps in. The UK’s most popular form of alternative finance, with over 44,000 businesses enjoying the benefits of a fluid cashflow and peace of mind from financial stability that it brings.

This is why you need invoice finance.

You see, regardless of how late your customers pay you, invoice finance pays you within 24 hours.

  • It’s not lending.

  • It is advancing monies on issued invoices.

Invoice finance is easy to arrange, cost effective and puts you firmly in control of your cashflow – vital for any business to survive, because, cashflow is king after all!

  • Simply issue your invoice as usual, copying in your invoice finance provider.

  • You are issued up to 90% of the value of each invoice, within 24hrs.

  • The balance you are paid when your customers settle their invoice.

  • There are no assets to secure against your invoice finance arrangement – your invoice is viewed as your asset.

There are more than 50 invoice finance providers in the UK. Each one offering a range of services for businesses of all types and of all sizes.

As an independent broker I have contacts with all of these providers; and it’s this independent position that means I approach the provider who will offer YOU the best option. That’s because CCF is not tied to any provider, contracts, targets or obligations.

With over half of all invoices in the UK paid late isn’t it time you looked at invoice finance?

Yes, we think so too, so call me directly on 07785 596053 and let’s get that payment flowing into your bank account and fast!