ll and medium-sized enterprises (SMEs).
However, less than half have actually taken steps to deal with the problem, according to a study conducted by NatWest and Royal Bank of Scotland (RBS).
UK businesses have invoices worth £15.7 billion that are more than 120 days in arrears and 71 per cent of SMEs in the country have suffered from late payments over the last 12 months.
Smaller businesses are worst affected by the situation and 235,000 claim that the time wasted chasing debt has greatly affected their operations.
According to Peter Ibbetson, chairman of small business at NatWest and RBS, bad debts and late payment of invoices "are endemic problems for UK businesses".
"What's concerning is that so few are making use of services from their bank to help alleviate the problem."
Specialist agencies offer services that can help companies deal with invoice finance, as well as back office requirements.…
tarting a recruitment company can help their businesses to grow.
However, to counter the potential threat of developing cash flow problems good credit control measures are required and one recruitment professional has suggested credit checking all clients.
Writing on business networking site LinkedIn, Gareth Jones advised his peers to use their judgement, insisting "if a company looks dodgy and smells dodgy, it probably is dodgy".
"Don't be tempted to go after any business - if you don't think they are not going to pay up after you have put the hard work in to source people and incurred the cost of paying them, then don't supply," he said.
He went on to urge recruitment professionals to "be very clear about your payment terms at the outset" and ensure they foster good relationships with their clients' accounts departments.
Late invoices and debt are "endemic problems" for UK businesses, Natwest and Royal Bank of Scotland said recently.…
calls for political parties to take the issue of over-regulation of business seriously.
Business directors are spending more than a month each year handling government red tape, according to a new report from the Institute of Directors (IoD).
The organisation claims that the cost of government regulation to business is now running at more than £80 billion a year and dealing with the paperwork is diverting the focus of directors away from company building and job creation.
"When the regulatory burden is so large that it typically occupies one employee in every private enterprise in the UK for nearly half a year, it’s obvious we have a problem," said IoD director general Miles Templeman.
He added that "businesses will continue to face a large and ever increasing burden of paper work that hinders them from growing and, ultimately, creating jobs" unless the next administration changes the way things are done.
NatWest and Royal Bank of Scotland recently stated that late invoices and debt are "endemic problems" for UK companies.…