Late payments hitting UK SMEs

Accountants & Bookkeepers

New research by Barclays has revealed that over a quarter (26%) of UK SMEs have seen the number of late payments they receive increase since the cost of living has gone up. The new findings indicate that rising prices have started to impact payments between businesses, as 16% of SMEs said that they’re finding it more difficult to pay suppliers themselves because of the cost of living crisis, rising to a third in the manufacturing (33%) and the construction & real estate (33%) sectors.

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