Late Payers say it is accepted practice …… Late payers have over the years paid bills when it has suited them. Without being challenged, many of us are guilty of this and it has grown into accepted practice. In the current economic downturn, it is common for big companies to delay payments to smaller suppliers … Read more
Companies not paying on time ……………… do so for two main reasons. a) they have severe cash flow problems and b) they use their customers as an interest free loan. Trade credit is almost always interest free, in the current climate customers are using their suppliers as loan providers. Any extra delay means money in … Read more
Small and medium-sized business owners need to have a way to deal with cash flow issues on a daily or weekly basis, as well as monthly. They may send out invoices at a set time, but they have no control over when their customers will pay. In the meantime, the business owner has fixed and … Read more
Late payment charges have always been an issue among corporate credit and finance executives. Charging customers a penalty for paying their invoices late and the effectiveness of doing so have been topics. Should your company assess a charge to customers that pay late, and what should you call that charge? In one survey of more … Read more
When it comes to fighting late payment, small businesses are the David in the struggle with big business Goliaths. At the Forum of Private Business, we continue to battle on behalf of small businesses against late payment by larger contractors. We champion our members on this issue and provide a collective voice for small business … Read more