Yet again, a damming report has been released over late payers and the detrimental effect they are having on SME businesses.
Last month, the Small Businesses Commissioner (and former Conservative MP), Paul Uppal went on record to say that late payers should be ‘named and shamed’. Whilst, Mike Cherry, Chairman of the Federation of Small Businesses has likened late payers to nothing more than ‘supply chain bullies’.
Now, a further piece of evidence has been unveiled this week, citing that over 25% of SMEs are owed more than £40,000 each.
How can a business look to grow, development, invest and expand when it is owed tens of thousands of pounds – their cashflow drying up quicker than it can be topped up?
It’s shocking and alarming!
SMEs make up 60% of the private sector and their well being and stable cashflow is essential to sustaining a sound UK economy.
Here at Calverton, we know all too well the affect late payment has on SME businesses. That’s why we created our award winning invoice factoring options to support SMEs regain control of their cashflow, despite how late customers pay.
- Our award winning factoring pays up to 90% of each invoice within 24hours!
- Offers an inclusive in-house credit control service.
- Pays the balance once your customers have paid – even if that’s 60, 90 + days.
There are several options to choose from...
- Invoice factoring – a fully factored finance option.
- Invoice discounting – all the benefit of factoring, yet confidential from your clients.
- Selective invoice factoring – choose which invoices you factor, ideal to cover seasonal lows.
So what’s stopping you? Join the 40,000 plus SME businesses already enjoying the advantages of invoice factoring.