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With the debt owed to small businesses ever climbing new research from WorldPay shows it at over £2.5 billion with many businesses writing of debts rather than pursuing them.

Small Business Late Payments now over £2.5 Billion 

With the debt owed to small businesses ever climbing new research from WorldPay shows it at over £2.5 billion with many businesses writing of debts rather than pursuing them.

Why ? Apathy or just lack of time or expertise.

Nearly half of those businesses responding to the research said things are getting worse as the economy struggles our of recession rather than better .  

We are seeing this problem grow and suspect that most of it is caused by lack of available finance from banks. The problem is the same for both sole traders and SME’s as their clients stretch their credit to keep their own cash flow on track.

I say to clients - never write off debts without making a real effort to get paid.

We find that the more you chase the more likely you are to get paid and if you can’t spare the time to chase o prefer not then outsource.

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