Premium Credit’s latest Insurance Index has found that 20% of SMEs are experiencing a growing problem with late payment of invoices. This is down on the 28% recorded last year and the 24% noted in 2022, but highlights the perennial issue late payment has on cashflow for SMEs.
Owen Thomas (pictured), chief sales officer at Premium Credit, said: “It is encouraging to see that the issue of late payment of invoices is easing somewhat for some SMEs but despite that, it still has a major impact on cashflow and business operations.”
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