HOW TO REDUCE THE RISK OF BAD DEBTS

Bad Debt

In the first three months of 2019 there was 35,779 County Court Judgments issued against UK companies, with a total claim value of £107.2 million.  According the Registry Trust the number and value of Judgments has been increasing over the last three years.  However, in context, the number and value of Judgments is still a - Read More >
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POOR PAYMENT CULTURE

Debt

On 13th March 2018 the Chancellor Philip Hammond made his Spring Statement.  He stated that poor payment culture was no longer an environment that would be entertained. On average businesses are paid 14 days beyond the agreed payment terms for their invoices.  Paying creditor invoices is usually 10 days beyond terms.  Such poor payment performance - Read More >
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Late Payment Crackdown

Debt

On the 17th September 2018 The Greater Birmingham Chamber of Commerce released an article about Mr Paul Uppal, the Small Business Commissioner.  He is tasked with supporting the UK’s 5.7 million small businesses (those with a turnover of less than £6.5 million and less than 50 employees, which is 99% of all private sector companies).  The article is - Read More >
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Do you pay your suppliers on time but are kept waiting beyond terms by your customers?

Debt

If so, you are not alone. In the second quarter of 2018 the manufacturing  sector saw debt owed to suppliers increase by 206.3% to £98M![1]  If your main customer base is within the manufacturing sector, pay special attention to these customers, chase your invoice as soon as it becomes due.  Ideally use company monitoring services - Read More >
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